ELMHURST – The Elmhurst City Council decided on three finalists for the Hahn Street development at a Committee of the Whole Meeting on Monday night.
"I think it would be fairly easy at this point – just looking at the rankings – to thank two of the developers for participating, but move on with three," said Fifth Ward Alderman Chris Healy.
Of the five developers who submitted proposals for multi-use buildings that combined luxury rentals, parking and retail to the council two weeks ago, the council agreed to invite Morningside Group, Lincoln Property Company and Banner Apartments, LLC to refine their proposals.
After elected officials ranked the conceptual proposals based on a 100-point weighted ranking system that considered eight categories,áless than seven points separated the top three developers. Economic impact was considered most heavily followed by architecture and applicant experience.
Lincoln's proposal ranked the highest with Morningside and Banner close behind. The second and third ranked proposals scored highest in the quality architecture category. Lincoln won out in the other significant categories of applicant experience and economic impact.
Nearly 30 points separated the top three plans from the bottom two. Jupiter Realty Corp. with a score of 53.92 and Buckingham Companies with a weighted score of 54.06 will not be asked to continue working on the project.
"There is an extensive amount of work that we're asking the finalists to do," said Mayor Steve Morley.
Finalists will be asked to give a much more detailed presentation of their proposals which should include a 3-D model of the proposal, a list of proposed retail tenants and evidence of the applicants financial capacity to undertake the project among other requirements.
The three finalists will be invited to present their expanded proposals to the council Nov. 12.