The Village is considering a development proposal from Five Thirty-One Partners for the Village-owned vacant parcel at Madison Street and Ashland Avenue. This proposal is preliminary and subject to change as the Village and developer discuss project details, gather public input, and the project moves through the formal Planned Development Process. A public hearing will be held before the Development Review Board on July 9 on the proposal.
The Development Proposal
Five Thirty One Partners has submitted an application to construct a mixed-use building at 7620 Madison Street. The proposal includes 72 residential units and 3,256 square feet of ground-floor retail space.
Village Packet, Including Cover Memo & Complete Application
Click above to view the transmittal letter from Village Administrator Matt Walsh, which includes an overview of the application and memos from Village Departments in addition to the complete application.
Five Thirty One Partners’ Complete Planned Development Application
To review the application only, please click the link above.
Design changes that have been made in this application include:
- The addition of garages on the lots north of the alley to provide additional enclosed parking. The garages are also intended to provide greater privacy than the previously proposed surface parking spaces.
- Widening of the east-west alley to accommodate service and waste hauling vehicles that will better serve the north-south alley.
- The addition of a drop-off/pick-up lane along Ashland Avenue. The lane provides space for delivery drivers or visitors to stop without blocking traffic on either Ashland or Madison Streets.
- The roof social gathering space has been shifted to the southern edge of the building, away from residents to the north.
- The Madison Street frontage now includes landscaped alcoves in place of a previously shown brick wall. The color of the masonry on the corner has also been changed.
Public Hearing Details
Following the Village’s Planned Development Process, the Development Review Board is holding a Public Hearing on July 9th at 7 pm in the Trinity High School Gymnasium (7574 Division Street, Door 8). Residents are invited to attend and provide public comment.
Frequently Asked Questions - UPDATED June 24, 2026
The Village has compiled an FAQ to address questions about development at the Madison Street site. We will continue to update the FAQ as the process moves forward and as we receive additional questions and comments from residents.
Read the Updated FAQ
How to Share Your Input
The Village welcomes feedback from residents across River Forest, and particularly those who live near the parcel at 7620 Madison Street. Your input will be helpful as the Village conducts negotiations.
Resident Feedback Form
Residents can use the link below to submit comments and questions directly to the Village via an online form.
Feedback Form: Madison Street Development Proposals
If you’d prefer to complete the form by hand, you can click here to download a PDF version to print and deliver to Village Hall. Hard copy feedback forms will also be available at the River Forest Public Library.
Open Houses
The Village is holding Open Houses in January and February for residents to learn more about the proposed development and provide feedback. Site maps, diagrams, architectural drawings and other visual resources will be available for residents to review. Village officials and representatives from Five Thirty-One Partners will be available to answer questions, and feedback received by Village staff will be provided to the Village Board and Development Review Board for consideration.
Residents were invited to attend Open Houses at the following dates and locations:
Development Proposal Timeline
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February 2025
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Village Board retains JLL, Inc. a top real estate broker, to manage the marketing and proposal process.
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April – May 2025
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JLL markets the Madison property to developers. More than 50 developers review the opportunity.
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June 2025
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Based on this level of interest, JLL issues a “call for offers,” requesting that interested developers submit an official “letter of interest” with information about their proposed concept for the property.
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June – July 2025
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Seven developers submit letters of interest. JLL and Village Staff meet with five to ask questions and share information about Village goals and residents’ input about development at the Madison & Ashland site.
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August 25, 2025
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Village Staff share findings and recommendations with Village Board. Two finalist candidates are selected. Reasons for removing other candidates from consideration included uncertainty of a funding source, need to purchase adjacent property, size of project, and lacking or incomplete information.
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October 27, 2025
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Ryan, LLC, a global tax services and economic development consultant, deliver a report to the full Village Board evaluating the viability of the two finalist development proposals.
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November 2025
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Trustees tour previously developed sites with finalist firms, consider the two proposals, and select Five Thirty-One Partners’ proposal to move forward.
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January 22 and 24, 2026
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The Village hosts Open Houses for residents to learn more about the proposal and provide feedback in person.
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January 26, 2026
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Project presentation at open Village Board meeting, commencing the Planned Development Process, which includes public meetings and hearings before a Village Board vote. The Planned Development Process is expected to take about five months, during which time the proposal will be subject to sensible modifications.
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February 4, 2026
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The developer attends the Economic Development Commission meeting to discuss retail opportunities for the proposed commercial space. No action will be taken at this meeting.
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February 5, 2026
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The Village hosts a third Open House for residents to learn more about the proposal and provide feedback in person, this time at Village Hall.
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February 19, 2026
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The developer will present his proposal to the Development Review Board in accordance with the Planned Development Process.
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March 5, 2026
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Neighbor Meeting to be held at the RF Civic Center, Dance Studio, from 6pm-8pm
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June 24, 2026
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Planned Development Application and Public Notice Published |
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July 9, 2026
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Development Review Board Public Hearing at 7 pm at Trinity High School Gymnasium.
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This timeline will continue to be updated as more information becomes available.
Madison Street Project Newsletter
Interested in staying up to date on the Madison Street Project? In addition to the information available on the Village’s dedicated project webpage, the Village now provides regular updates through a separate newsletter focused exclusively on this development.
No additional sign up is required. The newsletter is distributed to the same subscribers as the Village’s Weekly Newsletter.
These updates are intended to provide clear, timely, and informative insight into one of the community’s most significant initiatives. As new editions are released, previous issues will be archived below for convenient access.
This page provides information about opportunities to share input, the development proposal, the proposal process to date, and the expected process moving forward.
Read the January 14, 2026 Special Message from the Village Board.
TRUSTEE COMMENTS ON THE PROPOSAL & PROCESS
Trustee Bob O'Connell on Planned Development Process - click here
Trustee Lisa Gillis on Developer Selection - click here
Trustee Res Vazquez on Resident Questions - click here
Trustee Megan Keskitalo on School Impact - click here
Trustee Lisa Gillis on a Sustainable Community - click here