LISLE – The Village of Lisle has reached an agreement with developer Marquette Companies for the purchase and development of the former village hall site in downtown lisle.
During the Lisle Village Board meeting Monday, the board unanimously approved a Letter of Intent with Marquette Companies that allows the developer and village to work together to complete a formal redevelopment agreement for the property at the northeast corner of Main Street and Burlington Avenue as well as the adjacent parking lot.
Concept plans from Marquette call for approximately 200 high quality apartment units and more than 10,000 square feet of new retail space at street level.
The village hopes for a construction start in the middle of next year, according to a news release.
“There’s much work to be done first," Broda said in the release. “The board has some design concerns given the critical location and the future of our downtown. Step one is to work through this with the developer.”
A Village Workshop is planned for Monday to meet with the developer to discuss project design.