Feb. 29, 2016 – The new Lake & Forest parking garage officially opened for business today with Oak Park Mayor Anan Abu-Taleb joining other Village officials and representatives of the local business community and the project developers to cut a ribbon and raise the gates for the first time.
The ceremony officially opened the 300 public spaces on the first three floors in the new garage, which includes another 288 parking spaces that will serve residents and businesses in the new $99-million private development under construction in downtown Oak Park.
Once completed, the 21-story development at the high-profile corner of Lake Street and Forest Avenue will offer 270 rental apartments, about 25,000 square feet of retail and commercial space, and the integrated parking garage.
According to officials with project developers Golub & Co. and Wood Partners, the first apartment units should be available for occupancy in mid-2016. Discussions with large-scale retail/commercial tenants to anchor the commercial space are ongoing, they say.
The new Lake & Forest garage replaces one of the Village’s first stand-alone public parking structures. The old garage had stood on the site from about 1974 until it was demolished in October 2014 to make way for the new development.
Some 18,000 cubic yards of concrete, 50 tons of structural steel and 36,500 masonry blocks later, the first cars passed through the gates Monday at the entrance on Forest Avenue about a half block north of Lake Street.
The new garage initially will be open only to hourly parkers at the same rates as the Holley Court Garage near Lake and Marion streets and the Avenue Garage on North Boulevard just east of Oak Park Avenue. Daily and overnight parking permits eventually will be available in the new garage as well.
While the public portion of the garage will be owned by the Village, a private contractor will manage day to day operations. SP Plus Corp., a Chicago-based professional parking services firm, was selected through a competitive bid to manage the public garage. The company also will provide a new downtown valet parking service tentatively set to begin in March.
Once completed and fully occupied, the new development, called Vantage Oak Park, is projected to generate an estimated $1.3 million in new property and sales taxes each year.
Parking Garage Facts
- 75 to 100 workers involved each day
- 123 caissons, embedded an average of 52 feet deep
- 18,000 cubic yards of concrete (4,000 pounds per cubic yard)
- 50 tons of structural steel
- 36,512 masonry blocks
- 162,040 bricks
- 45 feet tall
- Four, high-speed elevators
- 30 bike racks
Vantage Oak Park Facts
- 21-story mixed use building
- 270 rental apartments
- 25,000 square feet of commercial/retail space on ground level and second floor
- 588-space parking garage (300 public)
- $99 million development investment
- $1.3 million in annual property and sale taxes (estimated)
- Developers: Golub & Company; Wood Partners
- Architect: Gensler (Chicago)
- General Contractor: Tishman Construction
More information on this and other major projects planned or underway in Oak Park is posted at www.oak-park.us/development.