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posted: 5/8/2014 5:30 AM

Business park projects ramping up in Hanover Park

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  • A Hanover Park panel will review a developer's plan to buy and construct a drive-through bank on a village-owned property next to the fire department's headquarters.

      A Hanover Park panel will review a developer's plan to buy and construct a drive-through bank on a village-owned property next to the fire department's headquarters.
    Courtesy of the Village of Hanover Park

 
 

Hanover Park officials are touting several projects expected to bring nearly $6 million in investment to a business park and lure a buyer to a village-owned property near the center of town.

Corrigan Moving Systems will build a $4 million, 48,000-square-foot warehouse in a business park between Turnberry Drive and Gary Avenue. To the south of the moving service business, Fujifilm will put about $1.8 million into renovations of its existing facility in the sprawling park, Community and Economic Development Director Shubhra Govind said Wednesday.

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"We're doing pretty well with very, very low vacancy rates in our industrial area," Govind said.

About three miles away, Barrington Bank & Trust wants to purchase the village's panhandle-shaped lot on Barrington Road and Walnut Avenue, pending the village board's approval of design plans for a drive-through building. The company also would acquire neighboring land and tear down an existing gas station to make way for a roughly 5,000-square-foot bank.

The village's economic development commission will hold a public hearing on the proposal tonight.

Officials plan to keep a small section of the site for the possible expansion of the fire department's parking lot.

"The bank did not need that so we would retain ownership of that," Govind said.

Hanover Park first bought the half-acre property as part of a drive to revitalize a struggling commercial area. At the time, the village also razed the shuttered Shires restaurant after taking over the lot along Barrington Road, a parcel marketed with the village-owned Hanover Square.

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