Investors considering East Dundee for Turkish Trade Center

East Dundee may soon serve as a hub for Turkish companies hoping to expand into the U.S.

Working with the Turkish government, a group of investors is considering acquiring land in the village to create a Turkish Trade Center - a project that aims to improve trade and business relations between the two countries, said broker Emin Tuluce of Seven Hills Properties.

During a presentation to the village board Monday, Tuluce said the group is interested in redeveloping the former Wal-Mart property, a roughly 12-acre parcel at 620 Dundee Ave., as well as adjacent land belonging to Plote Construction, Inc.

The trade center would include new industrial buildings with warehouses, office space, employee training opportunities and showrooms, Tuluce said. The group would also likely retrofit the Wal-Mart building to their needs, he said, and a hotel, restaurants, a bank, retail shops and other commercial space to complement the industrial facilities.

Roughly $50 million would be invested in the Turkish Trade Center, which is largely funded by the Turkish government, according to the project proposal, and hundreds of employees would be hired.

Eray Utucu, Tuluce's associate and managing director of EVE Group Companies in Chicago, has spent the past four years helping more than 400 Turkish manufacturers and other businesses expand into the U.S. With the trade center project, he said, he wants to create a place for those companies to share resources, work with American corporations and thrive in the Chicago market.

"The idea is to bring their U.S. headquarters here," Utucu said, noting all companies involved must be approved by the Turkish government. "That's our intention."

He added investors may seek incentives from the village to assist with site acquisition and preparation.

A temporary Turkish Trade Center has already been established in a rented space in Elk Grove Village, Utucu said, allowing the group to begin building its portfolio. When the five-year lease is up, he said, those companies would move to the permanent site.

Other locations, such as Bolingbrook, Romeoville and some towns in Cook County, are also being considered for the permanent trade center, Utucu said. Tuluce, who has other investments in the village, said East Dundee is ideal because of its proximity to I-90 and O'Hare International Airport.

East Dundee trustees welcomed the concept, and Utucu and Tuluce said they would continue discussions with the village and Plote before making a final decision next month.