R-23-20VILLAGE OF DEERFIELD
RESOLUTION NO. 2023- R-23-20
A RESOLUTION EXTENDING THE APPROVAL FOR A DEVELOPMENT
SCHEDULE FOR 8 PARKWAY NORTH IN THE PARKWAY
NORTH CENTER PLANNED UNIT DEVELOPMENT
WHEREAS, on February 4, 1985, the Village entered into an Annexation Agreement
("Agreement') with the prior owners 8 Parkway North ("Property') for the Property to be
annexed into the Village; and
WHEREAS, Property was annexed into the Village pursuant to the Original
Agreement; and
WHEREAS, on April 18, 2016, the Village adopted Ordinance No. 0-16-10, granting
for the Property approval of a: (1) planned unit development; and (ii) a Final Development
Plan (collectively, "Final Approvals'5; and
WHEREAS, Section 12.09-H of "The Deerfield Zoning Ordinance 1978," as amended
("Zoning Ordinance') provides that if no substantial construction has begun or no use has
been established in a planned unit development within the time stated in the Final
Approvals, the Special Use for the planned unit development shall become null and void
unless the Village Board extends the time period for beginning construction, which may be
extended by a period of not to exceed one year; and
WHEREAS, on April 16, 2018, pursuant to Resolution R-18-27, and on May 4, 2020,
pursuant to Resolution R-20-14, and on March 21, 2022, pursuant to Resolution R-22-18, the
Village Board extended its approval of the Final Approvals until May 15, 2023 unless the
Village Board further extends the approval; and
WHEREAS, the current owner of the Property, Quadrangle Parkway Holdings LLC,
("Quadrangle's, has requested a further extension of the approval of the Final Approvals
("Extension'); and
WHEREAS, the Village Board has determined that it will serve and be in the best
interest of the Village and its residents to grant the Extension;
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE OF DEERFIELD,
LAKE AND COOK COUNTIES, ILLINOIS, as follows:
SECTION ONE: RECITALS. The foregoing recitals are incorporated into, and
made a part of, this Resolution as findings of the Village Board.
SECTION TWO: APPROVAL OF FOURTH EXTENSION TO
DEVELOPMENT TIMELINE. Pursuant to Section 12.09-H of the Zoning Ordinance, the
Village Board hereby extends the deadline to begin construction on the Property in
accordance with the Final Approvals to May 15, 2024 (`Deadline'). If construction on the
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Property in accordance with the Final Approvals does not commence by the Deadline, the
Special Use for the Property shall become null and void.
SECTION THREE: EFFECTIVE DATE. This Resolution will be in full force and
effect upon its passage and approval by a majority of the members of the Village Board.
AYES: Benton, Berg, Jacoby, Metts-Childers, Oppenheim, Seiden
NAYS: None
ABSTAIN: None
ABSENT: None
PASSED: May 1, 2023
APPROVED: May 1, 2023
RESOLUTION NO. R-23-20
Daniel S piro, Village Mayor
ATT
Kent S. treet, WlIaA Clerk
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7 QUADRANGLE
April 12, 2023
Members of the Deerfield Village Board
Village of Deerfield
850 Waukegan Road
Deerfield, Illinois 60015
Re: Final Development Plan / Extension Request
Eight Parkway North / Parkway North Center PUD
Dear Mayor Shapiro and Village Trustees:
The purpose of this letter is to formally request a one-year extension of the Village Board's approval
of the Final Development Plan for Eight Parkway North. We are requesting this extension because the
Chicago suburban office market remains historically slow due to the market / pandemic impacts and
low office utilization.
Initial approval was granted in 2016 to Quadrangle Parkway Holdings LLC by the Village Board
pursuant to Ordinance No. 0-16-10, entitled "An Ordinance Approving A Final Development Plan For
8 Parkway North In The Parkway North Center Planned Unit Development." In total, this initial
approval was subsequently extended by the Board until May 15, 2023 pursuant to Resolution R-18-
27, Resolution R-20-14, and Resolution R-22-18.
Pursuant to Section 7 "Duration of Approved Plans Approval" of the 5'h Amendment To Annexation
Agreement dated August 18th, 1997, to the Annexation Agreement dated February 4, 1985, approval
of the Eight Parkway North Final Development Plan is for two (2) years and is "subject to further
extension in the reasonable discretion of the Board of Trustees." If this requested extension is
approved, it will end on May 15, 2024.
The Park North Owner Association's Architectural Review Committee initially reviewed and approved
the design plans in 2015 for five (5) years expiring December 28, 2020. Subsequently, on July 15,
2020, the Committee extended their approval for five (5) years through December 28, 2025.
1650 Lake Cook Road Deerfield, Illinois 60015 (847) 940-7333 www.quadrangle.us
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0 ■ Members of the Deerfield Village Board
April 12, 2023
Page two
Project:
Eight Parkway North comprises both the Eight Parkway and Five Parkway sites. The sites are the last
two development sites in the Parkway North Office Center. Per the approved Final Development Plan,
the building will be setback from the east side of Saunders Road, overlooking the primary Park
detention pond. The building will be approximately 200,000 SF in five (5) stories plus a lower level
for parking and ancillary uses. The design incorporates modern office attributes, such as a 12' ceiling
height on the first floor and 10' on all upper floors, increased interior light via 10' high floor to ceiling
continuous window line, modern building HVAC systems, and parking allowing for up to
approximately six (6) parking spaces per 1,000 RSF.
Project Status:
Since Quadrangle acquired the sites in October of 2015, we have worked to address as many
development tasks as possible and provide a Class -A development. In addition to the Village Board's
approval of the Final Development Plan, completed tasks include...
• Establishing our development team which has considerable experience working together, in the
Village of Deerfield, and in Parkway North.
• Shell architectural plans are to the point of construction drawings, and civil engineering plans are
85% complete.
• All necessary agreements for access, utilities and shared improvements have been fully executed
with the adjoining property owners.
• Available and sufficient storm water, utility and green area capacities have been calculated and
confirmed.
• The Fire Protection District has reviewed and approved the site plan.
• The LCDOT has approved a new full access driveway onto Saunders Road.
Market:
The demand for space in the Chicago suburban office market is not likely to change dramatically in
the next couple of years. The lean market condition started with the corporate moves to downtown
Chicago and has been aggravated by the pandemic and the resulting move to remote working and
corporate downsizing. This market is further complicated by the economic uncertainty of rising
inflation and interest rates and a slowing economy. Until this new environment is defined, corporate
real estate decisions will be curtailed and delayed as long as possible. The norm for the foreseeable
future is that there will be limited prospects in the market, and "large" prospects are more likely to be
in the 35,000 SF to 70,000 SF range.
Members of the Deerfield Village Board
April 12, 2023
Page three
Conclusion:
We believe that the attributes and location of this site make it unique and one the best office sites in
suburban Chicago. The project is designed for a Class A tenant and is being marketed to build -to -suit
tenants that value a modern work environment which incorporates employee amenities and promotes
employee mental and physical health, efficiency, productivity, and hiring. These attributes have
become even more critical as employers work to attract employees back to the office. In a market
where the great majority of existing office inventory is at least twenty years old and functionally out
of date, a build to suit may be the only solution to address a tenant's needs.
Approval of the Final Plans is critical to the project, its marketing, and our efforts to weather the current
market conditions and to bring a new corporate resident to Deerfield. We respectfully request that the
Village Board grant this extension through May 15, 2024.
Sincerely,
Timothy E. Sweeney
Manager, Quadrangle Parkway Holdings LLC
President, Quadrangle Development Company