Posen, IL | Bluestone secured an agreement to purchase approximately 12 acres of commercial property located at the northwest corner of 147th Street and Western Avenue in the Village of Posen. The property is directly adjacent to interstate 57 which has a full access interchange with 147th Street just a quarter of mile to the west. Over the next 18 months Bluestone successfully navigated the Village’s land use entitlement process and procured a zoning text amendment allowing for a large-scale Thorntons commercial fueling center on the property along with an in-line quick service restaurant, 5,000 sf retail center and a truck parking lot.
Bluestone also facilitated the negotiation of a redevelopment agreement between the Village and Thorntons that included a $7,500,000 economic incentive to offset extraordinary construction costs and off-site roadway improvements benefiting the community.
Thorntons opened a facility that features a 6,500 sf convenience store with gaming parlor, showers and laundry services, 5 dedicated commercial fueling bays and 70+ truck parking spaces, making it one of the largest new developments in South Suburban Chicago.