As Centegra plans the opening of their Huntley-located hospital in 2016, it will prepare to announce partnerships with academic medical systems, which highlights a trend in amongst hospital groups looking to partner and/or merge with larger health systems.
The Elgin O'Hare Expressway (Illinois Route 390) will be widened and extended, including new interchanges offering access to I-90 and I-294, eventually extending to O'Hare to ease congestion and accessibility to the western suburbs! The project began in 2015 and will continue through 2025. See important information on changes coming each year by clicking on full article below.
Northwestern Memorial Healthcare continues their reach west by recently partnering with DeKalb-based KishHealth System. This deal comes about a year after Northwestern combined with Cadence Health system based out of Winfield, IL. The move with KishHealth will provide the smaller two hospital system with additional resources to better serve the patient base in DeKalb County and its surrounding areas.
St. Charles, a western suburb of Chicago, is getting ready to welcome two more retailers to the town...making it three new business grand openings in the past 30 days.
The Finery & Blacksmith Bar will open it's doors tomorrow, Tuesday, July 21, in downtown St. Charles.
In our last blog we highlighted Tony's Finer Foods possible purchase of a vacant Dominick's in Schaumburg, Illinois. Within the structure of the deal, Tony's will receive Tax Increment Financing for the first five years. Today we read a similar article, this time offering a turf maintenance company sales tax rebates for the purchase of a vacant Walmart in Elgin, Illinois.
Last week The Daily Herald Business Ledger reported that Tony's Finer Foods is in the final steps of purchasing a vacant Dominick's location in Schaumburg, Illinois. This would be the fifth suburban location for the grocer, in addition to the four Chicago addresses.
Here is the introduction to our May 2015 newsletter, enjoy!
In our September newsletter last year we discussed the extreme growth Huntley, Illinois is experiencing, "From the years of 2000 to 2008, the town quadrupled its population...and from 2010 to 2012 the population increased an additional 10%. As the amount of rooftops increase, the need for physicians will follow.
A recent article in Crain's Chicago Real Estate Daily highlights suburban Chicago office buildings' vacancy at its lowest level in more than seven years. "Overall vacancy fell to 21.3 percent during the period (first quarter 2015), the lowest since the end of 2007...vacancy was down from 22.6 percent int he previous quarter and 24.4 percent a year earlier," notes the article on April 6, 2015.
Our firm has personally seen this vacancy decreasing in the office market.
For the past few years, O'Donnell Commercial Real Estate president, Kevin O'Donnell, has been actively involved with the CASA Kane County organization. Currently he sits on the board for CASA as Vice President of the Executive Committee. "I'm honored to be part of such a great cause," comments O'Donnell.
While browsing this week's posts on The Business Ledger site we were excited to see one of our clients quoted in an article. Court Airhart, developer and owner of Prairie Center in West Chicago, also builds homes under Airhart Construction. In the article "Slow Surge in Housing Rebound," Airhart said “The last five years gave us a lot of time to evaluate what we were doing.