Multifamily N Illinois

Oak Brook approves new luxury condo development, The Butler

Oak Brook approves Franklin Partners' luxury condo development, The Butler,ph1

The Oak Brook, Illinois Board of Trustees has approved The Butler, a development of 90 luxury condominiums located at 1900 Spring Road, directly across the street from the current Nordstrom building within Oakbrook Center Mall. The development team, which includes Jupiter Realty, Fasano Development and Franklin Partners, expects to break ground in summer 2019 for delivery in 2021.

“Oak Brook is at a pivotal juncture in our history and we have just sent a strong message to the residents of Oak Brook that we welcome high-end luxury developments that are consistent with the Oak Brook brand,” said Trustee Mike Manzo. “This $100 million development will add tremendous value to the community. It will result in $109,350 in new sales tax revenue, more than $1.6 million from construction fees and 560,000 gallons of increased flood water storage.”

Named after Paul Butler, the founder of Oak Brook, the 22-story building will offer luxury residences as well as communal amenities, including a fitness center, curated library, wellness spa, infinity pool, rooftop terrace and communal gardens. It was designed by Lucien Lagrange Studio, the firm behind Park Tower, 65 East Goethe and the Waldorf Astoria in Chicago.

“We are very pleased to welcome The Butler and its soon-to-be new residents to the Village of Oak Brook,” said David Carlin, president and CEO of the Greater Oak Brook Chamber of Commerce. “We owe much of the success of the project to the reputation of Jupiter Realty, Fasano Development and the high-quality and renown of the architect, Lucien Lagrange Studio. This is a significant accomplishment for our community that will benefit Oak Brook’s residents and businesses for many years to come.”

The property offer residents indoor parking for up to 225 vehicles. Unit mixes of 2-, 3- and 4-bedroom will be available, ranging in size from 1,340 to 3,500 square feet with outdoor terrace space and views of downtown Chicago. The building will also feature two luxury penthouse units between 5,000 and 5,400 square feet.

“We want to applaud the trustees and village president [Gopal] Lalmalani for their vision and leadership,” said Jerry Ong, Jupiter Realty Company. “Approval of The Butler demonstrates Oak Brook’s desire to maintain its position as an upscale community for discerning residents, while providing new choices for those who seek luxury and the convenience of urban living.”