Situated on a nearly 25-acre site just west of Arlington Park International Racetrack in Arlington Heights, the $250 million mixed-use redevelopment is envisioned to include luxury high-rise residential apartments, hotels, retail and restaurants. The project proposes to be built in phases over the next five years, starting with the conversion of the former 427-room Sheraton Hotel tower into a 214 unit luxury apartment building. Subsequent phases will include at least one new hotel, two additional rental apartment towers, retail stores and restaurants. The development’s strategic location offers convenient access to Chicago O’Hare Airport, rail and bus commuter systems, and major expressways.
