Naperville, Illinois - 10 S. Main

The 10 S. Main Street development is envisioned as a mixed-use residential development to be located at the southeastern intersection of South Main Street and West Benton Avenue in the dowtown district of Naperville, Illinois.  The site area is 21,938 square feet (approximately on-half acre) in size with plans to construct 16 to 20 condominium units distributed among three to four stories to be built over one level of retail and parking. 

The first level of the development will be comprised of 10.884 square feet of retail space, consisting of a number of separate commerical venues and a residential lobby with an entrance on Main Street.  The development plans call for 34 indoor parking spaces to be positioned adjacent to the retail establishments at street level on Benton Avenue and there will also be accessibility via Benton Avenue.  The condominium units will be contructed aligning a center, common courtyard located on the second level and each floor will contain a central lobby.  The second and third floors will include 4 units at 1,334 square feet, 4 units at 1,950 square and 4 units with 2,877 square feet.    The fourth and fifth floors will include 4 units with 2,887, and 4 units with 3,284 square feet. 

10 S. Main is envisioned to be a luxury-appointed community that includes a number of features and standards.  Kitchens will have granite countertops, upgraded appliances, oversized pantries, and a wide selection of cabinetry choices.  Baths will feature marble flooring, separate show/tub areas with marble surrounds, and fixtures that evoke subtle elegance.  On the more practical side, storage, both closet and bulk, will be extensive and laundry rooms with storage will be emphasized.

Prelude Development, Inc. recently contracted a feasability and market study regarding the site.  The conclusions of the study revealed the following:

• The property's location is excellent and should be considered superior to most other residential options in Naperville proper and throughout much of the western suburban area as a whole.
• Households in Naperville support relatively high incomes with the 2004 median standing at $95,504, or close to 65 percent higher than the $57.845 median reported for the Chicago region as a whole.
• There is an adequate demand for higher priced townhome and condominium development in Naperville and its surrounding environs.  During the next five years, annual absorption for products priced at $400,000 and higher will average 118 units yearly with potential increasing to an annual pace of 156 when the resale market is considered.
• Since most buyers of the 10 South Main Street community will emanate from Naperville's existing single family market, the city's high median home value of $385,000 leads further support to the development's potential.  Further. of the 2,288 detached homes sold in Naperville over the past twelve month, 488, or 21.3 percent carried prices of $500,000.

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This project is open for investment. 

For more information please Contact Us or call Chris at (847) 699-7600 ext. 17.