MOUNT PROSPECT William J. Cooney, AICP - Village of Mount Prospect
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MOUNT PROSPECT
William J. Cooney, AICP
Director of Community Development
Table of Contents
Introduction ................................................................................................................................. 2
Economic Development by the Numbers ................................................................................. 2
Development Updates ................................................................................................................ 3
Downtown Mount Prospect ....................................................................................................... 3
Downtown .................................................................................................................................. 4
10 North | 10 N. Main Street ............................................................................................................................ 4
Maple Street Lofts | 301 S. Maple Street ..................................................................................................... 4
Prospect Place | 1 W. Prospect Avenue........................................................................................................ 5
HQ Residences | 112 E. Northwest Highway ............................................................................................. 5
Chase Bank Building | 111 E. Busse .............................................................................................................. 6
Industrial / Flex Sector ............................................................................................................... 6
CloudHQ | 1200 E. Algonquin, 1200 Dempster Street ........................................................................... 7
2240 S. Busse Road............................................................................................................................................... 7
Commercial Corridors / Shopping Centers ................................................................................ 8
Take 5 Oil Change | 801 E. Rand Road ........................................................................................................ 8
Dunkin Donuts Mixed Use Development | 1798 Elmhurst Road....................................................... 9
Joe’s Donuts | 720 E. Rand Road ..................................................................................................................... 9
Everclean Car Wash | 300 E. Rand Road .................................................................................................... 9
Physicians Immediate Care Facility / 901 E. Rand Road .................................................................... 9
Cortland’s Icehouse Tavern Interior Build-out / 1501 Feehanville Road (MP Ice Arena) 10
Senior Living............................................................................................................................ 10
2040 W. Algonquin Road ................................................................................................................................ 10
Project Pipeline ....................................................................................................................... 11
Lions Park Rowhomes | 320 S. School Street ......................................................................................... 11
Industrial Spec Warehouse | 350 N. Wolf Road .................................................................................... 11
321 W. Prospect Avenue ................................................................................................................................. 12
Luxury Car Wash | 1791 Wall Street ......................................................................................................... 12
500 W. Central Road......................................................................................................................................... 12
Raising Canes / 915 E. Rand Road (former Century Tile site) ....................................................... 12
South Mount Prospect Tax Increment Financing District (TIF) .................................................... 13
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Introduction
The Village of Mount Prospect Community Development Department (herein referred to as “the
Department”) has two divisions: Economic Development, Planning, and Zoning, and Building
and Inspection Services. This quarterly report summarizes economic development activity in the
second quarter of 2022. Where applicable, this report ties departmental accomplishments to the
goals and objectives of existing planning documents, such as the 2017 Village Comprehensive
Plan and 2021/22 Strategic Plan, and the 2020 CONNECT South Mount Prospect Sub-Area plan.
Economic Development by the Numbers
While our business community continues to recover from the Covid-19 Pandemic, the Village
continues to see investment into our community. The Village issued business licenses for 24
businesses, 15 of which are new businesses and will create approximately 57 new jobs in the
community.
Notable businesses to receive business licenses can be found below:
Figure 1: New Businesses in 2022, Q2
Name Address Description
A Thousand Tales 2330 S. Elmhurst Road Bakery, café, restaurant
High-tech modern machine
Kitamura Machinery USA 451 Kingston Court
operator
Take 5 Oil Change 801 E. Rand Road Quick oil change facility
Olive Palace Banquets 828 E. Rand Road Banquet, event facility
Source: Mount Prospect Business License Program
While this is fantastic news, we must also recognize the businesses that closed permanently in
the first quarter of 2022, which saw the permanent closure of several businesses in the Village.
Please note that staff only closes licenses after receiving written or verbal notice, which can
cause reporting delays. The first quarter of each calendar year typically has more than usual
closures due to staff investigating business licenses that have not been renewed.
Figure 2: Closed Businesses in 2022, Q2
Business Name Business Address
B&M Elite Collection Inc. 1880 S Elmhurst Rd
Billy Bricks Wood Fired Pizza 1501 Feehanville Dr
Bristol Palace 828 E Rand Rd
Dr. John Funovits, D.C. 1100 W Northwest Hwy # 114
IME LLC 2420 E Oakton St Y
Lifespan Medical Associates 350 W Kensington Rd # 120
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Marlene Dabrowski DDS LTD 830 E Rand Rd # 11
Michael Francis, LCSW 401 E Prospect Ave # 215
Seven Seas Aquatics Inc 1712 E Kensington Rd
Skyles Law Group 200 E Evergreen Ave # 121
T-Mobile (1833 Algonquin) 1833 W Algonquin Rd
T-Mobile DU98 (1833 Algonquin) 1833 W Algonquin Rd
T-Mobile Sprint (905 Rand) 905 E Rand Rd 500
Trade Clouds - Covid-19 Testing 1100 W Northwest Hwy 202
Trade Clouds - IT Company 1100 W Northwest Hwy 202
Vels 1725 W Algonquin Rd
WINCO Enterprise Inc. 2420 E Oakton St H
B&M Elite Collection Inc. 1880 S Elmhurst Rd
Source: Mount Prospect Business License Program
Development Updates
The Department plays an active role in attracting, planning, and executing development projects
across the Village. Real estate development and construction project updates are communicated
through several avenues including social media postings, newsletter articles, press releases, and
the Village webpages such as the Transparency Portal, and the recently updated economic
development webpage.
Downtown Mount Prospect
Significant investment in downtown Mount Prospect has continued through the 2nd quarter of
2022, and the momentum will likely continue throughout the next several years. Major projects
are scattered across the board, either in conceptual development, currently under construction, or
have recently been completed. The following pages describe key projects which pave the way
toward achieving the desired vision for downtown Mount Prospect. These developments are
guided in part by the following long-range planning documents:
2017 Village Comprehensive Plan
2021-2022 Strategic Plan
2020 Connect South Mount Prospect Sub-Area Plan
2013 Downtown Implementation Plan Volume 1 and Volume 2
Among the many goals for downtown development are to:
Facilitate restaurant, retail, entertainment, and recreation development to create a
“destination” for both residents and visitors;
Increase density of residential uses to support new and existing businesses;
Improve occupancy for older and smaller commercial spaces;
Improve traffic flow, pedestrian crossings, and parking to accommodate increased density
and more intensive uses;
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Support a cohesive built environment to facilitate walkability and active use of space; and
Blend historic and contemporary architecture for a unique atmosphere.
Downtown
10 North | 10 N. Main Street
The 10 North Main development includes 97 rental
apartments that began leasing in March of 2021and
is now stabilized (~96% occupancy). The
apartment building features two amenity areas,
including a rooftop deck and parking provided via
130 at-grade and partially covered parking stalls
on site. The Village Board approved a plat of
subdivision allowing the Village to control and
maintain the streetscape area while pursuing a full
access curb cut northbound on Main Street in
conjunction with IDOT at the end of 2021. Construction to finish the 10 N Main Street access off
of Central Road and the Main Street widening to accommodate a left turn lane into the Main
Street access is ongoing, and is expected to be completed by the end of the summer. A future plat
of dedication of the traffic signal to IDOT property will be recorded once all utility signatures are
obtained.
Maple Street Lofts | 301 S. Maple Street
Maple Street Lofts is a mixed-use transit-
oriented development on a six-acre downtown
site. The Planned Unit Development consists of
15,000 square feet of retail space and 257 rental
units. In addition, 56 rowhomes are under
construction on the southern portion of the site
and all units have been purchased. The
development also includes 268 structured
parking spaces in a Village-owned public parking
garage intended to primarily serve Metra
commuters. Building ‘A’ began leasing in May of
2021 and is 98% occupied. Construction of
building D is anticipated later this year, along with
permit issuance on the rest of the rowhomes. Staff
is also pleased to announce the Caputo’s Grocery
Store recently signed a lease for the entire retail
space. Work on the grocery store ongoing and is
scheduled to be completed at the end of 2022.
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Prospect Place | 1 W. Prospect Avenue
Demolition of Prospect Place, located
at the southwest corner of Prospect
Avenue and Main Street, began in late
September of 2021. The permit for the
mixed-use development has been
issued and construction is underway.
Significant underground concrete
work and utility infrastructure has
been installed, and vertical
construction will be seen throughout
the summer. The development will
include 80 rental units and 10,000
square feet of commercial space. To
enable the project to move forward, the Village assisted three existing tenants to relocate to other
parts of the Village, highlighting the Village’s retention efforts for existing businesses in town.
HQ Residences | 112 E. Northwest Highway
The Village Board approved a redevelopment agreement (RDA) and a final planned unit
development (PUD) in December to construct a 6 story, 88 unit mixed use building with 3,200
square feet of retail space on the former Police/Fire Headquarters site. The development team
consists of T2
Investments, Harlem
Irving Company and
Hamilton Partners.
Amenities include a
pickle ball court, a
gym, and several
outdoor and indoor
recreation areas. The
Village has received
the foundation only
permit application,
with anticipated
demolition of the
former Police/Fire
headquarters later this summer after closing on the property with the Village. Initial occupancy
of the development is expected at the end of 2023.
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Chase Bank Building | 111 E. Busse
The rooftop antennas remain the primary
issue in redeveloping the property. Staff
continues to discuss the project with
interested development teams but nothing
can move forward until the antenna issue
is resolved. While no official concept has
been presented, staff continues to share
guidance and assist in relocating the
rooftop antennas. The redevelopment will
continue to be a priority for staff as we
move forward into the 3rd quarter.
Industrial / Flex Sector
Industrial and flex properties are primarily concentrated in the Kensington Business Center
(KBC) and South Mount Prospect. The Village wide industrial and flex vacancy rate went down
in the 2nd quarter of 2022, now at 2.7 % (previously 4.4%).
The following documents guide industrial and flex development in the Village:
2017 Village Comprehensive Plan
2014 Strategic Plan for 2020
2020 Connect South Mount Prospect Sub-Area Plan
Goals for industrial / flex development include:
Increase outreach efforts to existing industrial and flex tenants as part of the Business
Visitation Program.
Promote the 6B Tax Incentive to encourage adaptive re-use of industrial properties.
Strengthen the mix of uses at KBC and southern industrial areas.
Maintain investment in KBC amenities that support pedestrian uses and easier commute
for employees.
Improve connectivity between South Mount Prospect and the rest of the Village.
Minimize the negative impacts of industrial activities on neighboring land uses.
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CloudHQ | 1200 E. Algonquin, 1200 Dempster Street
During the second quarter of
2022, the Village Board
approved a final planned unit
development (PUD) and final
plat of subdivision at the
former United Airlines world
headquarters in South Mount
Prospect. The project
originally received
preliminary approval in the
fourth quarter of 2021, and
the developer, CloudHQ,
came forward for final approval in June. The project includes 3 data centers totaling over 1.6
million square feet of gross floor area, and a new ComEd operated substation. The project’s
financial impact to the Village and ultimately to South Mount Prospect residents and businesses
is significant. The project is expected to account for nearly 5% of the Village’s total EAV at
$100 million, and generate $1-$2 million annually in utility taxes. CloudHQ’s investment in
Mount Prospect will be over $2.5 billion, and construction of the buildings will require over
1,000 jobs in various trades and sectors. Up to 125 high quality and high paying jobs will be
created per building. Demo of the existing campus is ongoing, with phase one permit
(construction of the southwestern data center, ComEd operated substation, and site
infrastructure) review anticipated later this summer.
2240 S. Busse Road
The proposed 2240 S. Busse Road
industrial warehouse project was
approved in the fourth quarter of
2021 by the Village Board. The
developer will be constructing the
approximately 80,000 square foot
warehouse later this summer. Due
to the proximity to Interstate 90 and
O’Hare, the building is expected to
lease quickly upon completion.
Recently, the property has been
graded and underground infrastructure installed. Vertical construction of the facility will occur
this summer into the fall months.
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Commercial Corridors / Shopping Centers
Mount Prospect has several important commercial corridors, including Elmhurst Road,
Northwest Highway, Rand Road, Kensington Road, Algonquin Road, and Golf Road. With
many large shopping centers in the Village including Randhurst Village, Mount Prospect Plaza,
Golf Plaza II Shopping Center, Golf Plaza I Shopping Center and Mount Prospect Commons,
numerous opportunities for commercial investment are available.
The following long-range planning documents guide commercial development in the Village:
2017 Village Comprehensive Plan
2017 Rand Road Corridor Study
2021-2022 Strategic Plan
2011 Northwest Highway Corridor Plan
Goals for commercial corridors and shopping centers include:
Encourage mixed-use redevelopment of aging commercial centers throughout the
community.
Utilize incentives to recruit targeted businesses, such as matching façade and interior
build-out grants to qualifying businesses.
Improve and expand the gateway signage, banner, and streetscape program to all major
corridors to strengthen the identity and character of the whole Village.
Attract new shops, food establishments, and pedestrian-oriented amenities along
Randhurst Village’s Main Street that encourage customers to stroll, rather than shop and
leave.
Facilitate traffic and pedestrian movements that stimulate commercial activity.
Take 5 Oil Change | 801 E. Rand Road
Take 5 Oil Change recently opened during the second quarter at the
northern end of the new Mount Prospect Pointe center. The oil
change business offers quick, friendly service where customers
remain in their cars throughout the process. The company also offers
other services such as filter changing and under hood vitals check.
Issuance of a temporary certificate of occupancy means all of the
four standalone businesses in the Mount Prospect Pointe center are
now operational. The Village looks to continue the strong
performance of the Rand Road commercial corridor.
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Dunkin Donuts Mixed Use Development | 1798 Elmhurst Road
The developer received Village Board approval to construct a mixed-use building with four
commercial spaces, with one space occupied by Dunkin’ Donuts, and six apartment spaces on
the second floor in early 2021. Issues with the Illinois Environmental Protection Agency (IEPA)
have delayed the project due to IEPA required
underground soil remediation of the former gas
station property. The developer intends to
continue moving forward with the project, and the
site was recently demolished at the end of the 4th
quarter of 2021. Staff and the developer are
hopeful for a ‘no further remediation’ letter from the IEPA this year to facilitate the project.
Joe’s Donuts | 720 E. Rand Road
Joe’s Donuts recently submitted an interior remodel permit
application to build out the former Frankie’s Fast Food space at 720
E. Rand Road. Construction began in the 4th quarter, and will
continue into 2022. Joe’s Donuts is a locally owned, artisan, craft,
and made from scratch donut shop which serves breakfast and
lunch.
Everclean Car Wash | 300 E. Rand Road
Everclean Car Wash originally received Village
Board approval to construct a car wash at 300 E.
Rand Road in January of 2020. Due to the Covid-
19 Pandemic, delays in the construction have
occurred, and the applicant has requested, and received approval for two extensions to their
conditional use approval. The project recently received full permit from the Village, and
Everclean continues to pursue the project. Construction of the car wash is slated to begin later
this summer.
Physicians Immediate Care Facility / 901 E. Rand Road
The former Kalinowski European Sausage & Deli building is undergoing a comprehensive
interior and exterior remodel to accommodate a new immediate care facility. Much of the
exterior was removed to make way for higher quality building materials and a general face lift of
the building. Work is currently ongoing, and the business is slated for a fall opening should
deliveries of equipment and additional building materials arrive on time.
9|PageCortland’s Icehouse Tavern Interior Build-out / 1501 Feehanville Road (MP Ice Arena)
Cortland’s Garage currently operates in downtown Arlington
Heights, and is moving forward toward a build-out in the former
Billy Brick’s Wood Fired Pizza restaurant space in the MP
Ice Arena in the Kensington Business Center. Cortland’s
Garage also formerly had a Bucktown location, which
recently closed, and the restaurateur intends on moving that
location to the Ice Arena. A permit was issued in June
related to the build-out and expansion of the existing
restaurant space, which will take advantage of the 3rd ice
sheet which was completed late last year. The restaurant
intends to begin operation during the fall of this year.
Senior Living
2040 W. Algonquin Road
The Village Board recently approved a preliminary planned unit development (PUD) for senior
housing for the vacant parcel located at 2040 W. Algonquin Road to construct a 4-story, 53-unit
subsidized senior housing (55+ years old) development. The development would have a surface
level parking lot nearest Algonquin Road, and the building further setback into the property, with
an amenity walk in the rear. The below elevation highlights the mix of brick, stone, and paneling
that is proposed within the project. The Village continues to work with the developer to improve
vehicular access to the site from Algonquin Road. The applicant intends to submit for final PUD
approval in the coming months.
10 | P a g eProject Pipeline
Lions Park Rowhomes | 320 S.
School Street
The applicant, Cornersite LLC,
received approval from the
Village Board to construct 29
rowhomes at the current
National Catholic Society of
Foresters property located at
320 S. School Street in the
downtown in June. The project
features market rate rental
rowhomes with 2-car garages,
rooftop decks, and a pavilion
and open space area in the
center of the site. The applicant
plans to submit for permit later this year while finalizing the purchase of the property.
Industrial Spec Warehouse | 350 N. Wolf Road
Stotan Industrial, LLC
received approval from
the Village Board to
redevelop the former
Comcast property at
350 N. Wolf Road. The
approval effectively
rezones the property
from B-1 Office to I-1
Limited Industrial.
Stotan Industrial will be
constructing a 100,000
square foot industrial
warehouse. Proposed
truck parking would be heavily screened by the existing foliage on site. Between the Planning &
Zoning Commission hearing and the Village Board hearing, the applicant revised the elevations
(see above), improved the perimeter landscaping along Wolf Road, and added a screen wall
along the exterior dock area of the site. Construction is expected to begin in the fourth quarter of
2022.
11 | P a g e321 W. Prospect Avenue
The property owner is looking to convert the existing office space into 3 residential rental units.
The proposal would add a third story with related improvements. The request is expected to be
heard by the Village Board this summer.
Luxury Car Wash | 1791 Wall Street
Expected to come forward later in the second quarter, Snap Car Wash is a luxury, express car
wash operator which intends to purchase the 1791 Wall Street property to construct a car wash
facility. The vacant property was part of a plat of subdivision and zoning map amendment in
2017 which allowed the construction of the speculative warehouse facility to the north. The
applicant submitted their zoning request application in June, and is expected to be heard by the
Planning & Zoning Commission in August.
500 W. Central Road
Similar to 321 W. Prospect
Avenue, the property owner
at 500 W. Central is
pursuing an office space to
residential conversion. The
project would consist of 20
market rate apartment units
with a mix of 1-bedroom
and 2-bedroom floor plan
designs. The proposal would
expand the green space on the property, upgrade the existing façade on all sides, and provide
enhanced streetscape along Central Road, which would follow the Village’s downtown design
guidelines. The project is expected to be heard before the Village Board later this summer and
into the fall months.
Raising Canes / 915 E. Rand Road (former Century Tile site)
Raising Canes is proposing a complete redevelopment of the 915 E. Rand Road site, which was
formerly home to the Century Tile & Carpet operation. Staff is currently working with Raising
Canes on its site design to maximize the property while being sensitive to the adjacent neighbors
and residents. The project is expected to be heard at the Planning & Zoning Commission meeting
later this summer. Staff is pleased to see continued interest in the Rand Road commercial
corridor.
12 | P a g eSouth Mount Prospect Tax Increment Financing District (TIF)
The Village Board approved the
establishment of a TIF district within
South Mount Prospect during the
second quarter. TIF is an economic
development tool that helps spur
economic development and growth
while primarily funding
infrastructure improvements within
and around the TIF area. Available
projects to improve the area include
connecting all pedestrian sidewalk
and shared use pathways, repaving
roads, and providing access to
Village water and sanitary/storm
water sewer systems. The image to
the right provides the TIF boundaries
and locational map. Property tax
values are not frozen, and available
developers and/or existing property
owners are eligible for TIF dollars
should redevelopment projects come forward which demonstrate the need for TIF assistance.
13 | P a g eYou can also read
