Elgin O’Hare Western Access

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.

St. Charles, Illinois Welcomes Three New Retailers

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.

An Excerpt From Our Latest Newsletter

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.

Suburban Market Office Vacancy Trending Down

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.

Stratford Square Mall Joins Others in Renovations

Mall renovations seem to be trending throughout the Chicagoland area. From Charlestowne to Woodfield and Spring Hill, now Stratford Square Mall in Bloomingdale, Illinois joins in the effort of luring shoppers with new amenities and an updated look. Plans call for approximately $30 million of renovations in addition to the new 40,000 square foot entertainment center, called Round One.

Spring Hill Mall of West Dundee Proposes $37.7 M Renovations

On Friday we read an article detailing proposed renovations to Spring Hill Mall in West Dundee, Illinois. Mall owner, Rouse Properties, is proposing to village officials a $37.7 million renovation that will encompass approximately 174,000 square feet.

In 2005 Spring Hill Mall underwent $7.5 million of interior renovations.

Suburban Downtown Renovations Continue

Throughout Chicagoland we have seen a number of suburbs undergo changes to their downtown areas, including Naperville's new retail developments, St. Charles' First Street Development, and many more. In last week's Daily Herald Business Ledger, the mayor of Mount Prospect discussed upcoming changes to their downtown.