Sanchez Family Unveils Major Redevelopment Plan for Monee Industrial Property

Article Summary:

Developer Luis Sanchez, a key figure in Monee’s commercial growth for two decades, presented a plan to revitalize an industrial property on Industrial Drive. The project, which includes renovating an existing building and preparing the site for a second, larger structure, is linked to the village’s potential purchase of other Sanchez-owned properties through a tax-deferred exchange.

Monee Industrial Redevelopment Key Points:

• The proposal involves redeveloping the former Greif facility on Industrial Drive at Cleveland Avenue.

• Phase one includes renovating the existing 10,600-square-foot building and performing extensive site preparation.

• Phase two anticipates a new 15,000 to 20,000-square-foot building that could provide space for up to eight more businesses.

• The project is part of a 1031 exchange that would allow the Village of Monee to acquire other key Sanchez properties on Monee Manhattan Road.

MONEE — The family behind one of Monee’s most recognizable retail centers has proposed a major redevelopment project that aims to transform a “marginally maintained” industrial property and pave the way for future business growth.

During the Village Board meeting on Wednesday, developer Luis Sanchez, his daughter and business partner Lizzie Sanchez, and former Monee Mayor Jay Farquar detailed their plans for a property on the far west end of Industrial Drive. The proposal includes a complete overhaul of the existing 10,600-square-foot building and preparing the site for a potential second building that could add another 15,000 to 20,000 square feet of commercial space.

The project is more than just a standalone development; it is a key component of a complex negotiation with the village. For the past year, village officials have been in discussions to purchase two properties from Sanchez located on Monee Manhattan Road. To avoid capital gains taxes on that sale, Sanchez needed to reinvest the funds into a similar property, a process known as a 1031 exchange.

“If I can reinvest in town someplace else, then everybody is a win-win situation for everybody,” Luis Sanchez told the board. “The town gets the houses, they can build, do whatever they want, and I still have my income.”

Farquar, representing the Sanchez family, recounted Sanchez’s long history in the village, which began in 2003 when a detour from an interstate accident led him to Monee. That trip resulted in his purchase of land on Monee Manhattan Road, where he built Lamel’s Plaza in 2005.

“Louie kept his faith and in 2005 became the pioneer of what we now enjoy as retail growth,” Farquar said, noting that Sanchez faced initial pushback from some residents who feared development would ruin the community’s character.

Sanchez recalled those early challenges. “I had all kinds of comments but I strongly believe it was a good location. It’s a nice town,” he said. “There was need for a lot more retail.”

The family intends to bring the same standard of quality seen in their Frankfort and South Holland properties to the Monee industrial site. Lizzie Sanchez presented images of their other developments, which received letters of commendation from the mayors of those villages for setting a high standard of craftsmanship and enhancing the community.

“He wanted to set a high standard for not only Frankfort, but also to himself to show his craftsmanship and dedication to his work,” she said of a building on Larway Road.

The plan for the Industrial Drive property involves extensive site work, including engineering, grading, landscaping, and fencing, to prepare for the potential second building. The initial phase will focus on renovating the existing six-unit structure. The second phase, contingent on market demand, would add a building with eight more units.

The location is significant, as Industrial Drive and Cleveland Avenue were recently designated as a new truck route. “It is very important to raise the bar on how we look in this area,” Farquar stated.

The developers made a specific request for the village to approve a single sewer connection to service both the existing and future buildings, which officials will review.

Mayor Dr. Therese M. Bogs expressed her appreciation for the presentation and Sanchez’s commitment to the village. “There’s something about this town that brings people here and I believe something great is just around the corner,” Bogs said. “I appreciate your story.”

Village Administrator Ruben Bautista confirmed that the item was a presentation and that a formal proposal will be brought before the board for a vote at a future meeting.