‘More to come’: Developer selling Mount Prospect buildings has more projects on tap

Mount Prospect developer Nick Papanicholas, Jr. said Tuesday he remains committed to the village and has other ideas for revitalizing the downtown, despite recently listing three of his apartment buildings there for sale.

The buildings — the 20West building at 20 W. Northwest Hwy., Maple Street Lofts at 207 S. Maple St., and the Dawson, under construction at 235 E. Prospect Ave. — are being marketed as a “Mount Prospect Portfolio: Multifamily Trio.”

“We’re extremely proud of all our developments in Mount Prospect but especially what we’ve been able to bring to the village’s downtown,” Papanicholas said in a statement. “Everyone who has seen 20West, Maple Street Lofts and The Dawson has been really impressed and loves what’s going on in the downtown.

“We’d be happy to hold these properties for the next generation of our family,” he added. “If someone else purchases them, which isn’t a guarantee, they will be buying some of the best developments in suburban Chicago.”

Dawn Fletcher Collins, brand experience manager with the Nicholas Family of Companies, said the family this year will open The Prospect restaurant at 20West and break ground on a commercial development at 104 E. Northwest Highway.

“Whatever happens, we’re extremely proud of our Mount Prospect roots and these three properties,” Papanicholas said. “We also have a lot of other ideas to revitalize the downtown; there’s more to come.”