Source: Elmhurst Memorial Healthcare
Months of speculation about who would develop the old Elmhurst Memorial Hospital site has come to an end.
The hospital on Thursday announced it has come to an agreement with Nitti Development to purchase the 11-acre Berteau Avenue property. The deal is expected to close in the spring, according to a press release.
Elmhurst Memorial had sought and received multiple offers for the Berteau property in an open bidding process that was managed through broker CBRE.
“It’s a bittersweet moment for us,” said Mary Lou Mastro, president and CEO of Elmhurst Memorial Healthcare. “We’re pleased to have found an outstanding and responsible developer for the property, but it also officially brings an end to a wonderful 88-year presence in the neighborhood.”
Elmhurst Memorial moved to its new 50-acre location, at 155 E. Brush Hill Road, in 2011.
Nitti Development is based in Glendale Heights and specializes in building and developing residential and commercial projects. Nitti plans to build homes on the Berteau site.
“We are extremely excited about continuing to build on a great relationship with the Elmhurst community,” President Joe Nitti said. “We’re looking forward to working with Mayor Steve Morley and city leaders to develop the Berteau property and build homes that reflect the rich history of Elmhurst’s neighborhoods.”
The terms of the sale have not been released.
- School Board Wants a Piece of Berteau Reserved for the Future
- Could Park Plan be the Magic Bullet for Flood Remediation, School Overcrowding?
- Can Berteau Avenue Housing Development Be Slowed, Redefined?