Mundelein mulling options for redevelopment of ‘Bank Triangle’; ‘To show the rest of us what’s possible in the heart of downtown’
Hundreds of apartments, a 600-vehicle parking garage and new retail and entertainment space are among an array of possibilities for the redevelopment of a key area of downtown Mundelein known as the “Bank Triangle.”
A consulting firm shared preliminary ideas for the downtown block at the corner of Seymour Avenue and Hawley Street at a Committee of the Whole meeting last week.
The Mundelein Board of Trustees plans to hire an architect for the next step, so private developers can begin to visualize the business potential of the area.
The Hezner Corporation, a Libertyville firm, was hired by the board for to outline potential design and building reuse concepts for the Bank Triangle, formerly home to PNC Bank, Midwest Bank, a village Water Division building and a Citgo gas station.
At this point, plans for the six acres east of Seymour Avenue and north of Hawley Street are hypothetical, and the design concept was created to give the village an idea of development possibilities.
Mayor Steve Lenz said he appreciates the “ambitious design” conceived by the Hezner Corporation.
“ (Their) vision helps to show the rest of us what’s possible in the heart of downtown Mundelein,” he said.
Over a number of years, the village acquired several properties in the Bank Triangle — the former Citgo station and Water Division building — and several of the privately held buildings are vacant. The village said it’s an opportune time to seek partner investment in the business center.
“We’re very certain that the best utilization for this space is not two abandoned bank buildings,” Lentz said.
The Hezner site plan, which was positively received by the board, proposes developing the site into three new enterprises: multifamily residential, a retail and entertainment space and a multipurpose building.
There is one existing business, Karina’s Bakery, that would remain at the southwest corner of Seymour and Hawley. Hezner proposes renaming the development “The Spur.”
When Karina Pinedo first heard about the village’s plan to redevelop the block, she said she was “very excited.” Pinedo’s father owns the bakery, but she has been running the establishment since it moved to the Bank Triangle location five years ago.
Karina’s Bakery has been in Mundelein for more than 24 years.
“I think (the idea) just attracts more people,” Pinedo said. “It would be more like a downtown. There would be more people stopping by, whether they live around here or they don’t.”
The one aspect she hopes the village considers in design plans is ensuring there is enough parking for all the businesses, both new and old. Even with the empty banks, Pinedo said sometimes her parking lot gets full with non-customers.
Hezner’s plan does include a multilevel parking garage with 600 spaces at the north end of the Bank Triangle, next to a proposed multifamily residential building, with about 180 to 200 units.
On the west side of the block, the plan suggests new retail and entertainment spaces, with three to five storefronts on Seymour, an entertainment venue in the existing municipal building on site and a “town hall” mall space, with room for up to 15 retail units.
The last piece of “The Spur” includes a multipurpose building on the southeast corner of the lot. The building would be a flexible interior and exterior space to be potentially used for car shows, farmers’ markets, weddings, charity events, indoor sports and village events, according to Hezner’s proposal.
In 2017, Mundelein adopted the Downtown North Implementation Plan (DNIP) to focus on revitalizing downtown areas north of Hawley Street. The plan calls for more walkability, strategic parking and quality building profiles.
Since the village owns two of the parcels, it can determine what private development proposals to approve before selling, or determine what public improvements should happen on a parcel prior to the sale.
“These publicly owned parcels are some of the best opportunities for exceptional design standards, civic uses, public space and long-term investments,” the plan said.
Mundelein’s director of community development Amanda Orenchuk said the assistance from the Hezner Corporation gives the space “long-range” potential.
“A proposal of this nature gives Mundelein important information to communicate with developers and brokers about scale for residential and commercial spaces,” Orenchuk said in a release from the village.
The village anticipates privately held projects to invest in the downtown tax increment financing (TIF) district and contribute to the economic development strategy already established in surrounding blocks.
Vice president of the Hezner Corporation Scott Hezner said the group is pleased to be part of visualizing the potential for the downtown land.
“We see our task as this: Consider the potential and provoke thought to inspire opportunities and action,” Hezner said in a statement.
