288 Luxury Apartments Proposed Joliet's Route 59 Corridor

JOLIET, IL ? Continental Properties, based in Menominee Falls, Wisconsin has unveiled plans to build eight three-story apartment buildings, adding 288 "luxurious and spacious apartments with premium amenities" to Joliet's Route 59 corridor near Theodore Street.

Called "Springs at Caton Crossing Joliet," the multi-family apartment project would go at the northeast corner of Route 59 and Theodore on nearly 12 acres of open space. Continental Properties is already a major residential developer in the Joliet and Will County region, with Springs apartments on Weber Road in Romeoville and Lily Cache Creek in Bolingbrook.

In an exclusive interview with Joliet Patch this week, Continental Properties representative Erik Hahn said the luxury apartments planned for Joliet's Route 59 corridor will include granite top counters and stainless steel appliances, plus a clubhouse and resort-style pool.

There will also be a 24-hour fitness center available for the residents of Springs at Caton Crossing Joliet. The community will be fenced and gated, Hahn explained. "We are looking to cater to empty-nesters, age 50 and up and young professionals, ages 20 to 34."

Hahn said that Joliet and Will County have led Chicago's suburban corporate expansion, including the addition of Joliet's new Lion Electric bus manufacturing plant, plus the new warehouse and distribution centers on Brandon Road for Walmart and Harbor Freight Tools. Plus, there are numerous hospitals and medical facilities across the region.

"There's significant demand for housing created by all the new employment opportunities in Will County," Hahn said.

He said the median household income for Continental Properties' Springs' residents is $99,000. For Joliet's Route 59 project, Hahn said the proposed rent will be: $1,500 monthly for studio, $1,670 to $2,000 for one-bedroom apartments, $1,835 to $2,280 for two bedrooms and $2,200 to $2,650 for three-bedroom dwellings.

Hahn said the Springs at Caton Crossing would become a $62 million investment by Continental Properties in Joliet plus another $4.73 million from property, sales and income taxes, if the city approves the project. The development will need rezoning from the Joliet City Council to happen, Hahn said.

In recent days, Joliet area residents have received notices of Continental Properties' plans for the development proposal near Route 59 and Theodore Street. The major anchor is the CarMax dealership that opened last year. The development is called Cobalt Commercial Subdivision, and Mark Koenig of The Koenig Group Real Estate Services is the real estate agent.

Continental Properties will host a neighborhood meeting from 6 to 7 p.m. on Wednesday, Nov. 15 at the Hope Lutheran Church gymnasium in Shorewood at 305 Black Road. Hahn and other Continental representatives will discuss the plans and field questions from the nearby property owners.

Hahn said that Continental is hoping to submit its plans to the city of Joliet in December, with plans to break ground on the development "by mid-year 2024," he said. "We, at Continental, are excited about our latest pursuit of new development in the suburbs and view neighborhood outreach as an important part of the process to become part of the community."

Joliet City Planning Director Jim Torri told Patch that city officials met with Continental Properties in early September. So far, the Wisconsin company has not submitted its formal plans to Joliet, so Torri said he was not ready to talk about the project in-depth, yet.

In October, Continental Properties announced the groundbreaking of Springs at Lockport, a gated, garden-style community offering 320 premium apartment homes, including studio, 1-bedroom, 2-bedroom and 3-bedroom options at the northeast corner of 159th Street and Adelmann Drive, five miles north of Joliet.