Title/Name/Summary
Consulting & Commercial Real Estate Listing Agreement
History
HSA Commercial Real Estate is a national full-service commercial real estate firm that provides development, management, leasing and client services in retail, office, healthcare, industrial and mixed-use properties. HSA is located in downtown Chicago and has a solid, proven track record in Orland Park. HSA was the developer for the Orland Park Place Mall, under the direction and leadership of Timothy C. Blum. Orland Park Place was the Village’s first TIF redevelopment project, and was successfully redeveloped by HSA. The Orland Park Place TIF was very successful providing excess TIF surplus funds to the various taxing bodies, including the local school districts. HSA sold Orland Park Place to Inland but still owns the commercial building at the SE corner of LaGrange & 151st Street.
HSA is intimately knowledgeable regarding Orland Park’s market and the unique characteristics that set our community apart from others. The attached agreement outlines the responsibilities of HSA, and includes the marketing of the Main Street Triangle project, as well as the Village overall. HSA’s primary focused area will be the commercial and mixed use opportunities. This could include future partnering with Flaherty & Collins, as it relates to mixed-used residential areas. HSA will be paid a brokerage commission upon the closing (sale of land) or business opening (lease). The agreement is performance based. HSA will develop marketing materials for the project and will also erect a marketing sign. The full agreement is attached for Village Board review. HSA efforts will be lead by Timothy Blum, the Executive Vice President and Managing Director of Retail Division.
The Development Services Committee recommended approval (3-0) of the HSA Commercial Real Estate Listing Agreement on March 19, 2012.
Recommended Action/Motion
I move to approve the HSA Commercial Real Estate Listing Agreement.