News for the Hospitality Executive
|SCHILLER PARK, ILLINOIS, February 20, 2007 - The Village
of Schiller Park, Illinois has issued a request for proposals for the redevelopment
of the 26-acre West Gateway Area in Schiller Park.
The West Gateway Area is bounded by Irving Park Road to the north, Mannheim Road to the west, Belle Plaine Avenue to the south and Interstate 294 to the east. The site adjoins the South Cargo entrance to O'Hare International Airport. It is visible from, and provides superior access to the Tri-State Tollway (Interstate 294) and the O'Hare Oasis.
The redevelopment plan includes hotel, restaurant, retail, gas station, office, and air cargo uses. The resurgence in business and leisure air travel, strong convention and meeting bookings has increased hotel development opportunities in the O'Hare hotel market. The West Gateway is extremely well positioned for air cargo-forwarding and related global supply chain management businesses as well as construction, technical services, and other types of firms seeking this unique airport location.
To prepare for redevelopment, the Village has acquired approximately 13 acres of land and demolishing obsolete structures. This site is in a Tax Increment Finance (TIF) District that funds property purchases and infrastructure improvements.
The City of Chicago owns approximately 12 acres of land available for hotel, office, and retail development. The two municipalities are coordinating planning efforts on this unequaled development site.
"The Village is committed to redevelop our western entrance with private commercial development that will increase job opportunities, tax revenues, and area property values. We will enhance services to visitors, employers, and residents alike" said Anna Montana, Village President.
"We are enthusiastic about the interest and positive feedback on the plan we have received from developers and businesses. We look forward to the private sector helping to turn the Village's vision for the West Gateway into on-the-ground reality" said Kevin Barr, Village Manager.
Advantages the West Gateway Area provides include:
George Sakas, AICP
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