HAWTHORN WOODS, ILL. — After holding a 20-acre land parcel for more than 15 years, a private real estate investment group led by land developer Jonathan Berger of Berger Asset Management has unveiled new zoning and development plans for Hawthorn Woods Town Center. Berger worked with the Village of Hawthorn Woods on the revised plans for the site, which is located at the intersection of Old McHenry and Midlothian roads in the northern Chicago suburb.
The original zoning of the property required 300-foot setbacks. Berger secured 30-foot setbacks, which are typical in most retail properties. The village has also indicated a willingness to incentivize grocery stores, including small-store footprints. Additionally, the rerouting of traffic under railroad tracks, once complete, will serve to more directly and conveniently connect the Hawthorn Woods Town Center site to the village’s community park.
Berger originally acquired 40-plus acres in two distressed 20-plus-acre land parcels in Hawthorn Woods in 2009-2010, intending to act as an opportunistic land developer. In late 2019, Berger sold the site on the south side of Old McHenry Road to K. Hovnanian, a Dallas-based residential developer that built 70 homes.
While assuming the position of a traditional land developer, Berger is not ruling out the potential of developing a few parcels on a speculative basis, developing a core and shell before securing tenants. Such a strategy could attract smaller retailers or medical office users, according to Berger.
Holly Estler and Larry Kling of Newmark are marketing the property for lease. The land site is being subdivided into eight parcels ranging from 1.5 to 4.4 acres.