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New Development Will Bring Additional Retail, Office Space Downtown

The project, expected to be completed in 2013, will include a pedestrian bridge linking the Main Street developments.

A project that was left uncompleted in downtown Naperville is expected to be finished with a flourish now that well-known Naperville developer Dwight Yackley plans to see it through.

Main Street Promenade East, located on the east side of Main Street between Benton and Van Buren avenues, will enclose the expanded Van Buren parking garage with a mix of retail and office space. 

The founder and owner of BBM Incorporated, Yackley acquired the property after a planned development that was a partnership between the city of Naperville and a different developer fell through, according to a news release from the developer. 

Yackley is also the owner of Main Street Promenade, which houses and , and the Washington Corners property, which is home to .

“I feel a special responsibility to have this project be as successful as the original Main Street Promenade and contribute to the growth and health of downtown Naperville,” Yackley said in a news release. “The recession has been tough, but we’ve weathered the market better than other areas and kept vacancy rates comparatively low. So while it’s been quite a journey over the past 25 years. I’m as optimistic as ever about downtown Naperville’s future.”  

According to a story in Crain’s Chicago Business, Yackley has not secured funding for the project yet, but expects to close on financing that will total between $27 million to $30 million in the next three months.

Design plans for the development would include an enclosed pedestrian bridge that would link the original Main Street Promenade building to the new building and the Van Buren parking garage, according to the news release. 

Construction work is expected to begin over the summer and when it is completed there will be 99,000 square feet of retail and 194,000 square feet of office space, according to the developer. The project is expected to be completed in time for the 2013 holiday season.

Albert Gazalooch April 16, 2012 at 09:35 PM
This is great! I like the BBM past projects because the designs highlight the late 1800's and early 1900's architecture of downtown Naperville. Thank God a lot of those old 1950-1960 facades came down when some of the buildings were rehabbed over the past 20 years. I see one major problem. The parking deck is already being used to near capacity. When new businesses open, there will again be a shortage. It would be nice if the Nichols Library and Water Street decks were built by the end of 2013. Adding more venues will require more parking and the current infrastructure won't support it. If Naperville had a remote lot or two and a shuttle bus circulating downtown, this would help. Downtown Naperville is a destination and everybody drives there because there is no public transit to speak of. A 7:00 AM to1:00 AM shuttle service between the hotels and downtown would do wonders for tourism and business. If I were staying at that new fancy dancy Marriott, I'd take the shuttle to downtown instead of driving any day! Like it or not,Downtown Naperville has become a megaplex of business and entertainment. If the Water Street project ever get's built, it's going to become a madhouse.
PC May 05, 2012 at 03:17 AM
It's not if Water St gets built, its when. And when looks like soon. A restaurant signed a lease already at Water St, and new signage is up. As are rumors of a five story Holiday Inn Express. They need to rethink the previous Washington St Trolley Service (basically stops along Wash from as far north as Diehl down to Naperville's south side. Its about to get much busier over the next 24-36 months.
D.DouglasThomas July 10, 2012 at 09:45 PM
Build It And They Will Come....Now As To Parking???

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