Redevelopment
209 Cedar Avenue Mixed-Use Development
A new mixed-use destination is taking shape in the heart of Downtown Lake Villa.
The Village of Lake Villa is advancing plans for a new mixed-use development at 209 Cedar Avenue, a 60,000-square-foot Village-owned site located adjacent to Downtown, the Metra station, Lehmann Park, and Cedar Lake. The project is envisioned as a catalyst for Downtown Lake Villa’s continued revitalization, bringing new housing, retail, dining, and gathering space to one of the community’s most prominent locations.
The project, currently in early planning and predevelopment review, envisions a four-story mixed-use development with approximately 60 residential units and 10,000 square feet of commercial space. An upper-level event space and outdoor dining opportunities are also envisioned, creating an active destination that complements existing Downtown businesses and attracts both residents and visitors.
Development Team
The project is being advanced by JM Developers, a master developer joint venture between Cordogan Clark and JTE Real Estate Services, with Eriksson Engineering serving as a project consultant. Together, the team brings expertise spanning architecture, engineering, real estate development, financial planning, and public-private partnerships.
Better City's Role
Better City serves as the Village of Lake Villa’s economic development firm, supporting the Village in advancing strategic development opportunities that strengthen Downtown and expand the local economic base.
For 209 Cedar Avenue, Better City played a key role in preparing the project for market and helping position the property as a compelling catalytic development opportunity. The team developed the project pro forma, evaluating potential development costs, revenues, financing, and financial performance to establish a realistic framework for the project.
Better City also crafted the Request for Qualifications (RFQ) used to attract experienced development partners to the opportunity. The RFQ clearly articulated the Village’s vision, development expectations, site opportunity, potential programming, and available incentives—including the Downtown TIF district—while providing prospective developers with the information needed to evaluate the project.
Through this work, Better City helped translate the Village’s Downtown Vision into a market-ready development opportunity designed to attract qualified private investment and advance a catalytic project in the heart of Downtown Lake Villa.
Better City continues to support the development through business recruitment efforts, and has already found an interested boutique who will occupy one of the commercial spaces in this building.