River Forest Seeks Community Feedback on Madison Street Building Plan

Village officials move forward with proposal for mixed-use development on vacant lots

Published on Feb. 17, 2026

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The village of River Forest is advancing plans to redevelop vacant, village-owned lots at the northeast corner of Madison Street and Ashland Avenue. Chicago-based developer Five Thirty-One Partners has proposed a five-story mixed-use building with retail on the first floor and 72 apartments on the upper floors. Village officials have held three community meetings to gather feedback from residents, with traffic and parking being major concerns that will be addressed before the proposal goes up for approval.

Why it matters

Redeveloping the Madison Street corridor is part of River Forest's 2019 comprehensive plan, which aims to revitalize the area and increase the village's housing stock. The proposed development would also generate additional property and sales tax revenue for the village and local school districts.

The details

The property is made up of three lots that were previously home to a social services organization and private homes. River Forest demolished the existing structures in 2023 and hired a real estate firm to market the properties. The Five Thirty-One Partners proposal calls for a five-story building with retail on the first floor, 72 apartments ranging from one-bedroom to four-bedroom units, and a rooftop deck. Parking would be located on the first floor and two rear lots.

  • River Forest acquired the three lots in the late 2010s.
  • The village demolished the existing structures on the lots in 2023.
  • River Forest hired Jones Lang LaSalle Inc. to market the properties in 2025.
  • The village has held three community meetings on the proposal since mid-January 2026.
  • The Development Review Board will hold an introductory meeting on the proposal on February 19, 2026.

The players

Cathy Adduci

River Forest village President.

Matt Walsh

River Forest village administrator.

Five Thirty-One Partners

A Chicago-based developer that has proposed the mixed-use development project.

Rachell Entler

Forest Park village administrator, with whom River Forest officials have been regularly meeting.

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What they’re saying

“We want young professionals to come back to River Forest and raise their families in the community. We want empty nesters to stay in River Forest, because they love it here.”

— Cathy Adduci, River Forest village President (chicagotribune.com)

“We want to keep the (Madison Street corridor) vibrant for both communities.”

— Matt Walsh, River Forest village administrator (chicagotribune.com)

What’s next

The Development Review Board will hold an introductory meeting on the proposal on February 19, 2026, where residents will be able to provide feedback. After that, there will be a meeting specifically for neighbors, followed by more community development meetings.

The takeaway

River Forest's efforts to redevelop the Madison Street corridor reflect the village's broader goals of revitalizing the area, increasing housing options, and generating additional tax revenue - all while balancing the concerns of residents regarding traffic and parking impacts.