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ARLINGTON HEIGHTS, ILL. — Arlington Devco LLC has hired Tishman Construction as construction manager and general contractor for the $53 million conversion of the former Sheraton Hotel in Arlington Heights. The reconstruction will transform the 13-story building into a 214-unit apartment and retail facility. The project features the renovation of the existing 300,000-square-foot tower, as well as the construction of a new 105,000-square-foot garage, new roadways, underground utilities and landscaping. A new subterranean parking garage will feature 312 parking spaces that will accommodate the new apartments. The project is slated for completion by summer 2014.