The Jefferson Place, located in Downtown Morton, IL, is the flagship example of a successful redevelopment project done by Element Building. The site had transitioned from the original residential use to reactive business use in 4 houses that were no longer at their highest and best use.
The need for new commercial space for business and the lack of high-end residential rentals in the area were the key drivers to support the project. Jefferson Place has four commercial spaces on the ground floor covering appx. 8,000sf and 18 luxury apartments on the 2nd and 3rd floors.
Element Building acted as the real estate developer of the project completing all aspects including: land purchase, zoning, entitlements, construction management, design, funding, lease-up and asset management of the operations.