Oxford Bank & Trust refinanced a large strip mall in Mundelein Illinois for a closely held real estate company. During the Phase I ESA a dry cleaning facility which was still an active tenant at the strip mall was suspected to have leaked chlorinated solvents, including tetrachloroethylene or PCE. A Phase II ESA was performed which confirmed the presence of contamination.
It was clear the site was going to need to be entered into the Site Remediation Program (SRP) but the timing to get a No Further Remediation (NFR) letter was going to cause problems for the refinancing timeline.
Oxford Bank chose to escrow $65,000 to address the dry cleaner issue and make the loan.
The landlord worked with the tenant to become a drop-off only facility. A3E recommended a company that removed the dry cleaning machines from the facility. Once the machines were removed A3E started the remediation process.
Site Remediation Program (SRP)
Assets Not Liabilities
A3E completed the required site investigations to properly characterize and delineate the extent of impacts. The investigations included soil, groundwater and soil gas assessments. The impacts were mainly located at the rear of the dry cleaner in the receiving area of the strip mall. Investigating this area was challenging due to the multiple underground utilities located in this area. A3E completed Tier 2 modeling to develop site specific remedial objectives for closure. Additional remediation included utilizing the existing asphalt and concrete as engineered barriers and restricting the land use of the site to industrial/commercial.
Client:
Location:
Mundelein, Illinois ( Chicago Suburb )
Services:
Phase I Environmental Site Assessment
Phase II Environmental Site Assessment
Site Remediation Program
Key Staff:
Alisa Allen – Professional Geologist, Final Review
Paul Marek – SRP Project Manager
Duration:
2019 – 2020
Value:
Estimated $30,000
If you’d like A3 Environmental Consultants to price out your Site Remediation Program (SRP) project, please click through the link.
