Renderings of “The Promenade Project on Block A” depict a stunning four-story edifice housing 51 “condo-style” residences perched elegantly above five equally impressive retail units. Because who doesn’t want to shop beneath a cozy canopy of apartments?
Courtesy of the village of Lake Zurich.
In a delightful twist of fate—or maybe just a healthy dose of market observation—a second proposition offering a delightful blend of apartments and commercial spaces has emerged for the aristocratic gravel pit known as downtown Lake Zurich.
Enter “The Promenade Project on Block A,” an ambitious brainchild of Paul Proano Properties. It calls for a four-story, “look at us, we’re fancy” building, conceptualized to harbor 51 residential units alongside five charmingly mysterious retail establishments on the ground floor. You can practically hear the cash registers clinking from here!
This marks the second proposal to grace the vacant village-owned land directly across from the Lake Zurich promenade at 153 W. Main St., nudging it ever so closer to becoming a vibrant tapestry of development—or perhaps just another excuse to sell artisanal kale chips and overpriced lattes.
A second proposal for a mixed-use development on a site that has been quieter than a library after hours is finally warming up to the idea of turning a profit in downtown Lake Zurich.
Paul Valade/pvalade@dailyherald.com
Just two weeks ago, a pitch from the enigmatic Miller Street Partners and the gastronomic celebrity Fabio Viviani was fervently trying to woo the village board with dreams of 56 apartments alongside two restaurants. Apparently, everyone wants to stake a claim in what must be prime real estate—or at least a decent place to grab a bite.
Proano, a self-proclaimed Lake Zurich aficionado and commercial real estate maestro, calls his brainchild “an enchanting fusion of residential grandeur and dynamic retail offerings.” It’s unclear what “residential grandeur” exactly means, but I’m guessing it involves at least one unrelated piece of abstract art per unit.
The layout proposes a collection of twenty-four one-bedroom units that could reach a lofty 1,000 square feet, while the 27 two-bedroom, two-bath apartments would be up to 1,390 square feet. With monthly rents aggressively ranging from $1,900 to $2,500, it’s a cozy place for those wanting to enjoy the luxury of not having to park miles away from home.
What’s a shopping mecca without some tantalizing retail options? Proano casually tossed out a few ideas, and trust me, they could rival a hipster’s Pinterest board: tutoring businesses, artisan coffee shops aimed at caffeinating the masses, spas for the stressed-out emotional basket cases, and the ubiquitous trendy restaurants—which may or may not serve kale.
Amenities don’t stop at the door. Imagine a rooftop deck offering lake views that your grandma will certainly enjoy. And, for the more down-to-earth folks, a ground-level patio also glancing at Lake Zurich has been proposed—because nothing says “fine living” like watching others fish for their dinner.
However, parking—a topic that could inspire more contention than your average Thanksgiving dinner—remains a considerable hurdle. Trustee Roger Sugrue lamented that 161 parking spots just won’t cut it. Luckily, Proano is mulling over acquiring adjacent land for… wait for it… more parking. Because yes, parking is truly the pièce de résistance of any real estate pitch.
As Trustee William Riley grumpily pointed out, it’s “difficult to picture approving something” with the hopeful notion of buying out another property. Apparently, wishing doesn’t make it so—who knew?
Mayor Tom Poynton, perhaps channeling the spirit of an urban planner, noted the proposal doesn’t align with the public’s long-held desires for Block A. “A nice-looking building,” he accused, “but where’s the open space, the outdoor dining, the activities?” Clearly, the community is clamoring for a verdant utopia where one could both sip artisanal espresso and watch ducks quack melodiously.
Proano assured the board he would return with additional information, undoubtedly hoping to wow the audience until they throw money at him. He voiced a heartwarming desire for a destination spot that residents would adore—whatever that looks like in this Pinterest-perfect world.
Should these grand aspirations proceed, they will meander towards negotiating some form of a redevelopment agreement with the village staff, followed by the tedious process of obtaining permits and approvals, while both the board and community eagerly hold their breath. Ah, the delicate dance of urban development, where every step may lead to peril or promise—or at least a new place to grab overpriced sushi.
“We look forward to this never-ending saga of redevelopment,” smirked Michael Duebner, the assistant village manager, as he patiently awaited the next round of proposals that promise to change the world—or at least Block A.
