Tower Marketplace, the newest property offered by Ardmin is approximately 40 acres of farmland located in unincorporated Joliet, IL, on the northwest corner of Route 59 and Theodore Street.  This property is located between the City of Plainfield on the north and Shorewood on the south.  Route 59 is currently a two lane highway at this point, but representatives from the Illinois Department of Transportation (IDOT) have indicated that Route 59 from I-55 to Plainfield will become a four-lane highway.  Ardmin is also working with IDOT for the placement of a traffic light at the north end of Tower Marketplace.  In working with the Joliet planning committee, we learned that in addition to 59 being a major thoroughfare, but Theodore is also a planned major thoroughfare running east and west in northwest Joliet.

Commercial and residential subdivisions line the entire Route 59 corridor from Plainfield to Shorewood (See “Aerial Photo”).  The high traffic counts continue to grow as the new development continues to push south and west.  There are a number of new subdivisions planned in the area of the proposed Tower Marketplace.  The 2004 median income for the 3 mile radius is $63,040 and the population growth in the same are is expected to grow 12.26% by 2009.  The coordinates for this area are Longitude -88.196895 N and Latitude 41.553241 W.

The Ardmin team is performing the due diligence to move this property from farmland to an upscale retail development.  Once acquired, our plan is to subdivide the parcel and move forward with formal designs.  As we sell the outlots and pre-lease the retail space we will look towards the final phase of the investment, the sale of the retail center.  The entire project is expected to take approximately 2.5 to 3.5 years.