In addition to a luxury multifamily residential building, a parking deck, and an expansive “Village Green” open space, the Clove will feature an anchor grocery store, as well as several dining, retail, and entertainment offerings designed as a vibrant destination for the local community to gather for many years to come.
“This was an incredibly complex transaction that will have a lasting impact on the way that this Chicago suburban community lives, works, plays, and comes together,” said Chicago real estate partner Gregg Dorman, who led the redevelopment team for Nixon Peabody. “I, along with my Nixon Peabody colleagues from across multiple offices and practice areas, couldn’t be more proud to have worked on this transaction for Kensington Development Partners.”
Nixon Peabody advised the developers in connection with extensive predevelopment matters, including challenging acquisition, simultaneous sale, and joint development issues, municipal development and incentive-related matters, complex title and subdivision issues, existing lease restructurings, terminations and enforcement issues, and several new lease transactions and project financing.
In addition to Dorman, the core Nixon Peabody real estate transaction team included real estate partners Lori Bowman and Kris Curran, associates Andrew Hahn, Christina Ricotta, and Spenser Sotolongo, and paralegal Lori Esposito.
The team also included partners Elizabeth Baio, Armando E. Batastini, Mike Kuppersmith, Allen A. Lynch, II, Matthew R. Lynch, A. Darren Miller, counsel Keith Edeus, associates Jamie Flesch, Jason Kim, Emily Schwebke, and Michael Testa, and paralegals Vienna Kim and Robert Isaacson.
