Latest news with #GeorgeAlpogianis
Chicago Tribune
13-05-2025
- Business
- Chicago Tribune
Even with Golf Mill Shopping Center for sale as its redeveloped, Niles leaders say the village's investment in the project not in jeopardy
Though Golf Mill Shopping Center is for sale, Niles village leaders are confident the $443 million redevelopment of the landmark mall will still move forward as planned this year. In a May 7 online news release, the Sterling Organization, the West Palm Beach, Florida-based owners of Golf Mill Shopping Center, announced a 'strategic initiative' to advance the redevelopment of Golf Mill, 'whether through an equity recapitalization in which Sterling Organization continues to play a leading role, or a sale to a third-party that is highly qualified and experienced in executing similar redevelopments.' Niles Mayor George Alpogianis said he learned of the announcement only recently, but the possibility of seeking a buyer or investors had been mentioned previously by Sterling executives. 'I've been reassured by Sterling that they're moving forward with the project as planned,' Alpogianis said in a telephone interview with Pioneer Press. 'This is another way to find out what kind of money is out there for investing or buying the property.' Alpogianis said the village's investment in the redevelopment is 'covered' by the Redevelopment Agreement approved by village trustees at the June 25, 2024 Village Board meeting because it has 'a provision in case there is a sale for a piece of property.' The board agreed to provide a pay-as-you-go tax increment financing incentive up to $96 million for the planned mixed-use development which, according to the RDA, 'may potentially feature retail, restaurants, entertainment, residential, medical office, hotel, and personal services in a multi-phased redevelopment.' 'We are fully aligned with the village in our shared commitment to bringing this exciting project to life. Our focus is delivering a development of the highest quality — one that reflects the full potential of this unique site and enhances the future of the community and doing so in as expeditious a manner as possible,' Dustin Hicks, managing director of development and construction at Sterling Organization, stated in the release. Chicago-based Jones Lang LaSalle is marketing the project, according to the release. The real estate and investment management company is promoting the 79-acre site as a redevelopment opportunity of turning the 1.1 million square feet of retail into a 'modern open-air, mixed-use property.' The Sterling Organization did not return Pioneer Press calls for additional comment. 'No matter what happens, Sterling assured me, I assure our citizens, whatever happens … will be in the best interest of the village of Niles,' the mayor said. It was Aug. 19, 2014, when the Sterling Organization announced its $60 million purchase of Golf Mill from the Cuneo Family, who had developed the popular mall in the 1950s. In recent years, village leaders have been in extensive negotiations with the real estate development group and Alpogianis said the company has been very cooperative. Some of the planned redevelopment at the site is the creation of a pond, or water feature with a mill wheel in the water, just as the original mall had. The red letters on the golf-style office building, he said, will also be another form of signage at the mall. Alpogianis said according to the master plan, the entire interior mall will be torn down, as will the movie theater and former Sears retailer building. He said there are currently approximately 40 tenants, including those using kiosks, still inside the mall but most others have moved out. All of the buildings and tenants in the outlots surrounding the mall will be retained, he said, including LA Fitness, Gordon Food Service Store, and retailers Target, Ross Dress for Less, Burlington, Ulta Beauty and JC Penney. Extensive landscaping, a promenade from Golf Mill Park toward the pond, outdoor movie screens and a grassy knoll are also planned, he said. 'The way we envision it: Live, eat and play,' Alpogianis said. 'We wanted a place that is family oriented, where kids could find something to do, watch a movie while their mom and dad could get a haircut, get their nails done or grab a bite to eat at a restaurant.' Although the recent sale announcement is a 'bump in the road' in the redevelopment plans, Alpogianis said he remains very confident. He called it all a waiting game, though he said he's talking with the principal of Sterling and plans are still moving forward. 'Golf Mill was the jewel of Niles for decades,' the mayor said. 'We've worked very closely with Sterling via the RDA to restore Golf Mill to its glory days once again.'
Chicago Tribune
06-05-2025
- Business
- Chicago Tribune
Leaning Tower YMCA site being razed, creation of a downtown Niles planned for the site: ‘We're in a renaissance'
Crews began last week to tear down the Leaning Tower YMCA building in Niles, clearing the way for development of a downtown area in the north suburb that may include an entertainment venue. 'We're looking at the possibility of the area being surrounded by storefronts, apartments or condominiums, and creating an indoor/outdoor theater,' mayor George Alpogianis told Pioneer Press. He said one interested party suggested building a theater with a retractable rear wall, similar to the roofs on many sports stadiums. Also planned is creation of a pedestrian-friendly plaza anchored by the Leaning Tower of Niles, the 90-year-old half-scale replica of the Leaning Tower of Pisa in Italy. On April 28, Alpogianis drove an excavator on the site of the former Niles Leaning Tower YMCA, at 6300 Touhy Ave., ceremoniously starting the work of tearing down the building – which was built in the 1960s adjacent to the village's landmark Leaning Tower of Niles, a half-scale replica of Italy's Leaning Tower of Pisa. The landmark Leaning Tower remains standing, but the YMCA, which was shuttered by the YMCA of Metropolitan Chicago in May 2020 due to the COVID-19 pandemic, is costing the village $1.1 million to demolish, village spokesman Mitch Johnson told Pioneer Press in an email. The demolition by contractor Ground Crew Demolition and Excavation is expected to take three months. Last November, the Village Board authorized razing the building, eight months after purchasing the 6.6-acre YMCA property for $2.1 million, Johnson explained. This site is on the south end of the total 8 acres of land the village purchased in April 2019. 'We bought that with the mindset that Niles doesn't have a downtown, geographically it's impossible,' Alpogianis said. 'We decided Golf Mill will be our shopping district, and we looked at the south end of the village and we deemed that another district. That could be our downtown and Golf Mill could be uptown.' Golf Mill Shopping Center, at the busy corner of Golf Road and Milwaukee Avenue, is scheduled for a $443 million facelift, the mayor explained. Developers are planning to begin demolition in late September in preparation of a three-year project expected to transform the 64-year-old mall. Alpogianis said multiple entities had looked at the former Leaning Tower YMCA to repurpose it into some type of residential building or hotel. But the amount of money necessary to update the dated infrastructure was cost prohibitive. Village leaders decided it would be more financially feasible to start from new construction, and they began discussing what could be developed on that site – which is set in a tax increment financing district. The YMCA site included two buildings, one that had residential units and other that included an activity center. The parcel was considered by village officials to be blighted and a town eyesore. The mayor was candid in his assessment of the site when officials announced in April 2024 that the village purchased it. Alpogianis previously said the Leaning Tower YMCA site was '[expletive] disgusting. It is in shambles inside: It has been vandalized multiple times and there are multiple broken windows. People have been in there urinating, feces. I'm gonna assume there are rodents in there.' Now, the mayor said he is in talks with multiple music promoters and some in the entertainment industry about a live performance theater — which could be part of the redevelopment — that could seat 3,000 to 6,000 people. 'There's been an outcry from our citizens dying to get a theater in Niles,' he said, adding that it would not only be a concert venue, but a live theater for plays and a community theater for local school graduations. In addition to the theater and multi-use retail and residential that village leaders hope will be developed on the site, Alpogianis said they would like to create a grassy knoll, and in partnership with the Niles Park District, host public art and community events. However, nothing has been formally submitted or reviewed by the Village Board for the site. 'We're in a renaissance in Niles right now,' Alpogianis said. 'Nothing of significance has been done for 25 years. … We all got together and pow-wowed. It's happening and all coming to fruition.'
Chicago Tribune
30-04-2025
- Business
- Chicago Tribune
Niles tearing down Leaning Tower YMCA, making way for new shops, housing and more
Crews began Monday to demolish the Leaning Tower YMCA building in Niles that is adjacent to the iconic landmark of the same name, paving the way for the village to begin a sprawling mixed-use redevelopment. Village of Niles officials, including mayor George Alpogianis, were onsite at 6300 W. Touhy Avenue as the wrecking work officially began. In a ceremonial move to kick off the demolition, Alpogianis was set to operate the wrecking ball. The YMCA had been built near the Leaning Tower after a land donation in 1960. 'This event marks a significant step in the Village's renaissance plan to revitalize the area surrounding the historic Leaning Tower of Niles,' officials stated in a news release announcing the start of demolition. According to the release, in March 2024, the village purchased the 6.6-acre YMCA property for $2.1 million looking to turn the site into a mixed-use development that would include retail, dining, and entertainment. Also planned is creation of a pedestrian-friendly plaza anchored by the Leaning Tower of Niles, the 90-year-old half-scale replica of the Leaning Tower of Pisa in Italy. Niles officials call the redevelopment a complement to the village's Comprehensive 2040 Plan 'to enhance community spaces and economic growth,' the release explains.
Chicago Tribune
22-04-2025
- Business
- Chicago Tribune
Niles leaders establish Touhy Avenue TIF expecting a $17M haul, jumpstart new development
Niles village leaders hope a new tax increment financing district on Touhy Avenue will spearhead an estimated $17 million in redevelopment along the corridor. The Niles Village Board voted 6-0 at its March 25 meeting in favor of ordinances formally creating the Niles Southwest Touhy Corridor TIF Redevelopment Plan and Project. The TIF includes parcels located on the north and south side of Touhy Avenue – bounded by Harlem Avenue to the west, the North Branch of the Chicago River to the east and parcels fronting Touhy Avenue to the north and south by North Milwaukee Avenue. If the town secures a developer for the area, village leaders are projecting an increase in the equalized assessed valuation for that area from the current $3.79 million to between $9 million and $12 million over the 23-year term of the TIF. 'Every day it's sitting the way it is, we're losing money,' mayor George Alpogianis told Pioneer Press. 'We know we have to do something. It's been 2½ decades since anything has been built in Niles. We need to start rolling the dice and try to respect and carry out the wishes of the citizens who have asked for this over the last four years.' The mayor believes the new TIF — which was approved by the Joint Review Board of affected taxing districts in December and presented to residents during a public hearing in January — will attract developers to build a mixed-use development. It would include residential, retail, and commercial spaces expected to generate more property and sales tax revenues, as well as new jobs. The board approved three ordinances March 25 that establish the TIF: One to approve a tax increment development plan and redevelopment project; a second designating the project area; and the third adopting tax increment allocation financing. The board started discussing this new TIF district in 2023, which connects to another TIF created six years ago at Touhy and Harlem avenues, according to village documents. 'That area has been desolate for quite a while and not generating a lot of revenue,' Alpogianis said. The village bought the bank on the northeast corner of Touhy and Harlem avenues years ago to 'control what was going to be built there in the future,' leaders said. However, village officials discovered there wasn't enough TIF money to attract developers to stimulate the redevelopment they desired for that area. 'How are you going to make it more sexy?' the mayor said village leaders questioned. 'How do you better entice people?' As a result, they decided to create this adjoining Southwest Touhy Corridor TIF district which Alpogianis said will combine the two areas to stimulate development in both TIF districts. In fact, village officials have been in recent discussions with Nea Maya Real Estate Development which is proposing a 200-unit luxury apartment building at Harlem and Touhy avenues which would have retail on the first floor and seven stories of residential, a dog park, gym, sauna and swimming pool. If approved, the mayor hopes this project will be built out over the next three years. 'We've been very successful with our TIFs,' Alpogianis said. 'It's been a tool and it's an investment. The tax increment from this project is going to go way up from apartments, revenue from retail businesses and people spending more money in the village of Niles.' Last year, he said the village generated $2 billion in retail sales, which helps the village keep its share of residential property taxes low. 'We're keeping these businesses open and creating new businesses, generating sales tax revenue and bringing jobs to the area,' the mayor explained. 'We're not only trying to retain but create a bigger base. We have to look at it as how it helps us in the future keeping our property tax base at only 10 cents of every dollar,' Much of the area in the new TIF district predates the village's first comprehensive plan and contains 10 structures on 59 tax parcels and makes up almost 20 acres,according to village data. Fifty percent of the buildings in the area are over 35 years old and showing their age, according to the February redevelopment plan jointly created by the village and the consulting firm, Ryan Inc. Village officials determined that establishing a TIF would help to achieve economic development in the area identified in the village's 2024 Comprehensive Plan. Officials found that this area met five of the TIF qualification factors, including deterioration; obsolescence, deleterious land use or layout, as well as lack of community planning and lag or decline in EAV. 'This is an important revenue-generating part of town,' Niles Community Development Director Chris Raguso stated in an email to Pioneer Press. 'This TIF compliments current redevelopment efforts at Harlem and Touhy and Gross Point and Touhy. These efforts are to ensure that we are stabilizing our local economy and proactively providing resources to grow. A TIF is the preeminent tool that affords a local municipality the ability to conserve our spending power and overall budget, stay competitive with area communities and continue to be a destination for residents, visitors and businesses.' The area has 'proximity to high quality transportation options and roadways can increase opportunities for new businesses, while improved streetscaping and pedestrian paths can support the existing commercial character of the corridor,' according to the village's strategic plan. The company that will ultimately develop the Southwest Touhy Corridor TIF District will be responsible for improving public utilities and infrastructure including roadways, sidewalks, water mains, sewer systems, public parking facilities, stormwater management and detention facilities and much more, according to village data.
Chicago Tribune
28-03-2025
- General
- Chicago Tribune
Niles starts, pays for pilot program to change lead pipes at 300 homes in the village
To comply with a federal government mandate, Niles village officials said the north suburb will be doing a pilot program to replace lead service lines. It is expected that about 300 homes will be part of the program – at no cost to the owners. The mandate, which has broad impact nationwide, calls for the replacement by 2037 'but has not received any funding from the federal government,' Niles officials stated in a release announcing the pilot program. Officials state that Niles is leveraging a no-interest loan of about $4-million to do the pilot program. It gives the village and residents a 'head start' on meeting the federal requirements. 'This pilot project is a proactive step to help our community address the federal mandate by taking advantage of strategic funding. We encourage eligible homeowners to participate and take advantage of this no-cost opportunity,' mayor George Alpogianis stated in the release. He said his hope is for 'families here in Niles to know that we are fully committed to securing state and federal funds to ease the burden on our residents and businesses. Alpogianis said he has been working with the village's federal lobbyists, along with federal and state leaders, to push for more funding for the lead pipe replacement program. The village started notifying some homeowners weeks ago if they lived in the area designated for the pilot program. To participate, the selected homeowners had to submit a form earlier this month. Officials stated in the release that the 315 homes selected for the pilot program were chosen using Illinois Environmental Protection Agency criteria. Replacing each service line is estimated to take about eight hours. 'According to the U.S. Environmental Protection Agency, lead can get into the drinking water when the service line – the pipe that carries water from the water main into the home – is made of lead. The pilot program sets the groundwork for a larger long-term effort to meet federal requirements and protect public health. The village is committed to securing any additional state or federal funds for the ongoing, long-term Lead Service Line Replacement Program once they become available,' Niles officials stated in the release.
