An office building in Lincolnwood that eventually could become the site of a new hotel recently was sold, although village officials have yet to receive formal redevelopment plans for the property.
The building at 7250 N. Cicero Ave. was sold earlier this year to Minhaz Lakhani, who joined a representative from a hotel management company at a village board meeting in April and shared plans to turn the 63-year-old building into a hotel.
Lakhani and Zio Pekovic, vice president of acquisitions and development for Mount Prospect-based The Bricton Group, said at the time that they were in “advanced discussions” with hotel operator Hyatt to secure a franchise brand for the site.
But they cautioned village officials that they hadn’t made any agreements with Hyatt or acquired the 1.5-acre parcel at the southeast corner of Cicero Avenue.
The building was sold the following month to Lakhani, said Jerry Ettinger, a property manager and former part owner of the office building who is president of Hallmark & Johnson, a commercial real estate brokerage firm based in Lincolnwood.
Village officials also have been in touch with the developer since the meeting in April, although they haven’t received formal development plans, said Steve McNellis, community development director for Lincolnwood.
“I was told as recently as a week ago that they were working behind the scenes on feasibility studies and financing, and expected to be ready to move forward soon,” McNellis said in an email.
Hyatt representatives and Pekovic both did not return calls for comment.
Public records also show the property was sold May 13 by Lincolnwood Financial Center LLC to Lakhani, whose name appears as DML Properties LLC on the deed. The land was valued at $169,092 at the time of the sale and the total assessed value of the property was estimated at $648,227, according to Cook County property records.
In April after listening to Lakhani and Pekovic’s plan for the site, trustees gave positive feedback on their initial idea for a 110-room, Hyatt-branded hotel with amenities, including a ballroom with event space for up to 250 people and an indoor pool.
If the proposed hotel development comes together, it would first go to the Plan Commission, which would have to consider zoning changes for the property and make a recommendation to the Lincolnwood Village Board.
Since the building currently lies in an area zoned mostly for offices, any plans for a hotel would require special-use approval or a mapping amendment to rezone the property for a hotel use.
“The (zoning) map amendment is feasible because the property to the south and east are within a (business) district,” said Aaron Cook, development manager for Lincolnwood.
Commercial development historically has been a point of contention along nearby Touhy Avenue, where residents earlier this year petitioned against fast food chain Culver’s plans to build a new restaurant on the 4400 block of West Touhy.
Residents in two condo buildings near Touhy Avenue and some neighboring residential side streets came out in throngs to oppose the proposed development during a series of public hearings, where the majority of residents said they wanted to keep commercial development away from their dwellings.
But village officials disagreed and passed a measure to lift a longtime ban on fast-food drive-through lanes along Touhy intended to make it easier for Culver’s to receive approval for the new location.
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Despite being in close proximity to Touhy Avenue, Cicero Avenue has seen less interest from commercial developers. But the hotel project could bring change to a business landscape that is marked mostly by indiscreet office buildings.
Trustees also have said a two-fold plan to reduce noise to neighboring homes and address the increased traffic a hotel would bring to the already-busy thoroughfare street would need to accompany a hotel development.
Natalie Hayes is a freelance reporter for Pioneer Press.