Land use Concepts- March 7, 2012

Page 1

Real Estate Development Potential As part of the FAA Compatibility Study, AECOM was asked to provide a framework for potential future real estate development that could occuring Bensenville following completion of the Elgin O’Hare-West Bypass (EOWB) and the Western Terminal.

metrics for the O’Hare market were compared to similar US airports, including Atlanta, Dallas-Fort Worth, Seattle, and Philadelphia. Corroborating interviews were also conducted with local real estate developers and brokers to clarify market expectations for the West O’Hare area.

To understand the framework potentials, we evaluated retail, office, hotel, industrial and residential real estate development fundamentals for the O’Hare market, including Bensenville. As well, the real estate

DEVELOPMENT PROGRAM With the Elgin O’Hare-West Bypass AND the West Terminal

The information below highlights AECOM’s view of the real estate development potentials for Bensenville through 2035.

1.5

DESTINATION RETAIL FOCUSING ON ONE TO TWO LARGE FORMAT STORES ON SITES PROXIMATE TO EOWB INTERCHANGE

square feet of warehouse to higher value flex (office, industrial, and distribution)

square feet

M I L L I O N

1,100 HOTEL ROOMS

NEIGHBORHOOD RETAIL FOCUSING ON ONE TO TWO LARGE FORMAT STORES ON SITES PROXIMATE TO EOWB INTERCHANGE

RESIDENTIAL UNITS

75,000 100,000 to

370 1230 to

500,000

square feet

square feet of OFFICE focused primarily on Thorndale Corridor

2

DESTINATION RETAIL FOCUSING ON ONE TO TWO LARGE FORMAT STORES ON SITES PROXIMATE TO EOWB INTERCHANGE

square feet of warehouse to higher value flex (office, industrial, and distribution)

sqaure feet

DEVELOPMENT PROGRAM With the Elgin O’hare-West Bypass WITHOUT the West Terminal

M I L L I O N

HOTEL ROOMS

RESIDENTIAL UNITS

100 200

50,000 75,000

to

200,000 A

V I S I O N

F O R

175,000 NEIGHBORHOOD RETAIL FOCUSING ON ONE TO TWO LARGE FORMAT STORES ON SITES PROXIMATE TO EOWB INTERCHANGE

700

VILLAGE OF BENSENVILLE

175,000

to

square feet

square feet of OFFICE focused primarily on Thorndale Corridor

B E N S E N V I L L E

March 7, 2012


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