The new owner of Metropolitan Square in downtown Des Plaines is making improvements to the property to entice new tenants. World Class Capital Group, the investment firm that acquired the development through foreclosure proceedings, completed a number of renovations to the medical office portion of the property in November, said Matt Kurucz, asset manager at World Class Capital Group, and plans to retrofit the current signage for Metropolitan Square to highlight tenants and give it a new look in the coming months.
Kurucz said the renovations to the common areas in the medical office building on the northeast side of the development, which included upgrades to the elevator and vestibule at the entrance, new carpet, paint and more, cost approximately $60,000. The new signage is expected to cost $50,000, he said.
“I hope that it tells people the people that the new owners of this are serious about making this better,” Kurucz said.
One of the options being considered for the signage are LED lights that look like neon lights, Kurucz said, a nod to old Des Plaines businesses including McDonald’s and the Sugar Bowl.
“My goal is to pay homage to all the other businesses in town,” Kurucz said.
Tenants will also have a space to display their business names on the new signage, Kurucz said.
, announced it took ownership of the foreclosed office and commercial portion of Metropolitan Square in May 2012.
Kurucz said he hoped the new signage would be installed by the end of April.
“I’m expecting revised sketches back on our revised signage for the center,” Kurucz said. “We’re expecting those back from the sign company here this week, and then we’ll pull the trigger and get that going.”
Related: Rents lowered on Metropolitan Square in Des Plaines.