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Developer buys former TTI building in Glenwillow for $28 million; Stratford Commons group eyes assisted‑living conversion
Summary
Glenwillow’s economic development director reported the former TTI building sold to Onyx Partners for $28 million and that a New York firm has expressed interest in converting the former Stratford Commons property to assisted‑living memory care, which would require a Special Use Permit.
At the Sept. 4 meeting of Glenwillow Village Council, Economic Development Director Jeremy Rowan reported that the former TTI industrial building was sold to Onyx Partners of Massachusetts for $28 million.
Rowan said Onyx has a prospective tenant that is negotiating a 15‑year lease for the entire building. "The former TTI building was sold recently. It was sold to Onyx Partners out of Massachusetts for 28 million. They have a tenant that will take the entire building and are currently negotiating a 15-year lease," Rowan told council.
Rowan also summarized TIRC meeting results, saying most tax-increment and community reinvestment arrangements were found compliant at the county level, though Fastner Tools showed a payroll shortfall the county noted; the county nevertheless allowed agreements to continue into the following year. He said Spectrum Diversified will remain in the building until next year and the village will reach out to find space for the company within Glenwillow when that lease ends.
Separately, Rowan said a group from New York has shown interest in the former Stratford Commons building with plans to convert similar properties in the Midwest into assisted‑living memory care facilities. He said that if the group proceeds, the project would require a Special Use Permit and council would be updated when more information is available.
What happens next: Village staff will monitor lease negotiations for the former TTI building and follow up on any formal land‑use or permit requests should the Stratford Commons proposal advance.
