New Info Comes Out On Plans For Maywood Park Racetrack Site

Saturday, April 6, 2019 || By Local News Curator || @maywoodnews

A diagram of retail properties along North Avenue on the site of the soon-to-be demolished Maywood Park Racetrack. | Mid-America Real Estate Corp./LoopNet

New details have emerged about the massive industrial and retail development going up on the site of the soon-to-be demolished Maywood Park Racetrack, 8600 W. North Ave. in Melrose Park.

According to multiple reports, Atlanta, Ga.-based Ridgeline Property Group will develop the 42-acre site — ” a three-building, 623,000-square-foot industrial project” that will be called the Chariot Logistics Center, according to a report published by RE Journal.

Harris Architects, based in Palatine, and Kimley-Horn, based in Raleigh, N.C., will design the project. Oak Brook-based Krusinski Construction will build the project, which could be completed by the end of this year, RE Journal reports.

“Larry Goldwasser, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield will provide leasing services for the project,” RE Journal explains. “The leasing team anticipates strong interest from e-commerce, last-mile service providers, food/cold storage, manufacturing, warehouse and distribution tenants.”

The village of Melrose Park’s Board of Trustees annexed the Maywood Park Racetrack property in December 2018 — three years after the venerable racetrack closed.

Village officials expect the project to generate an estimated 400 construction jobs and up to 700 permanent jobs once the development is finished.

The three industrial industrial buildings are scheduled to be finished by late summer or early fall of 2019. An additional 59,600 square feet of retail space along North Avenue will be done by the summer of 2020, officials said.

“Tenants of the buildings will be announced at a future date when contracts are finalized,” according to a statement village of Melrose Park officials released in January.

According to an informational brochure found on LoopNet, and put out by Mid-America Real Estate Corporation, there were 10 properties along North Avenue designated for retail and only two of them were currently available at the time the document was published. Eight of the retail properties had been taken already.

A diagram of retail properties along North Avenue on the site of the soon-to-be demolished Maywood Park Racetrack. | Mid-America Real Estate Corp./LoopNet

Before the village of Melrose Park annexed the ractrack, it was located in unincorporated Cook County and controlled by the Cook County Board of Commissioners. VFP

Contact: thevillagefreepress@gmail.com | Facebook: @maywoodnews

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