Orland ‘model’ ready for closeup
By Mike Nolan email@example.com February 27, 2013 3:03PM
Chris Kirles, vice president of Flaherty & Collins, shows off the kitchen area in the decorated model at the Ninety 7 Fifty on the Park apartment complex in Orland Park on Wednesday, February 27, 2013. | Joseph P. Meier~Sun-Times Media
Updated: April 1, 2013 11:47AM
The first fully-furnished unit at Orland Park’s Ninety 7 Fifty on the Park apartment complex is in move-in condition, but nobody ever will.
The one-bedroom apartment, ready for visitors starting next week, is a new sales tool for project developer Flaherty & Collins. The first tenants in the building, northwest of LaGrange Road and 143rd Street, are scheduled to move in by late March, Christopher Kirles, a vice president with Flaherty & Collins, said Wednesday.
Up until now, a simulated, computer-generated “walk-through” video of the Ninety 7 Fifty building was as close as prospective tenants could get. A preview office near the apartment building also has renderings as well as samples of the wood finishes and fixtures that will be used in the apartments.
But with the model unit, “people can feel, touch what they’re going to get,” Kirles said during a tour Wednesday. “The model really does make a difference.”
The apartment, however, won’t ever be leased to a tenant, he said.
“It will always be a model,” Kirles said. “You always have constant turnover (of building tenants).”
Tours of the unit will be available to potential tenants starting next week, and 80 people so far have signed up for a look, Kirles said. Features of the unit include wood-style flooring in the kitchen and living room, stainless-steel appliances, granite countertops and a wine rack mounted above the refrigerator.
Just under 70 units will initially be ready by the end of March, with all 295 apartments finished later this summer. So far, about 40 tenants have signed leases for units, which will range in rent from $1,325 a month for a one-bedroom to $2,400 for a two-level apartment.
Building amenities, including a gaming room, fitness center and “e-lounge” with four computer workstations, will also be completed by the end of March, Kirles said. Work on outdoor courtyards and the area surrounding the pool won’t get under way until the weather improves, he said.
A coffee shop, Amano Vivere Cafe, is also scheduled to open on the first level at the northeast corner of the building, closest to the 143rd Street Metra station, and Kirles said his company is talking with other potential retail tenants.
“We’re being very selective about who we talk to and who we ultimately have here,” he said.
The apartment project is estimated to cost $65 million, and Orland Park is loaning Flaherty & Collins $38 million and providing another $24 million in gap financing incentives. The village has been borrowing money from Fifth Third Bank to pay construction and other costs, and last year sold $20 million in bonds, with proceeds being used to repay the bank. Another bond sale is expected this year.
The Ninety 7 Fifty building will be the centerpiece of Orland Park’s “Main Street” redevelopment, a 20-acre project that village officials hope will include a pedestrian-friendly mix of shops and other businesses.
A portion of Orland Plaza was demolished to make way for Ninety 7 Fifty, and more of the vacant retail center, with the exception of Gee Insurance and Marquette Bank, will be razed next month.