ST. CHARLES, ILL. — Chicago-based JCF Real Estate has plans to develop The Corporate Reserve of St. Charles, a 50-acre business park located in the western Chicago suburb of St. Charles. At full build-out, the $100 million development will include approximately 600,000 square feet of Class A office space. The first phase of construction, which is set to begin immediately, will include two single-story, 15,000-square-foot speculative office buildings and a three-story, 45,000-square-foot spec office building. In addition, the park will be able to accommodate build-to-suit projects ranging in size from 2 to 19 acres. Long-term plans also include the potential for restaurant users in some of the build-to-suit and outlot parcels, as well as a full-service hotel. The initial phase of construction has an expected completion date of the second quarter of 2009. Amenities at the business park will include outdoor parking, heated sidewalks to eliminate icing in the winter, 24-hour secured access to the buildings, native landscaping, ponds, and a series of walking paths and picnic areas.
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