Developers wanted for Grayslake's old fairgrounds

An economic development organization in Grayslake is hoping to generate more interest in the former Lake County Fairgrounds site.

Qualified developers for the long-dormant property at routes 45 and 120 are being solicited by the Grayslake Business Partnership, a nonprofit, public-private initiative seeking to lure new businesses to the village.

The group's managing director, Michael Stewart, said the original vision for significant retail development on the former fairgrounds no longer may apply.

"With many traditional brick-and-mortar retailers struggling, the partnership felt it important that we hear the voice of the market in what real estate developers see as a viable use and mutually beneficial development that will succeed over the long term," Stewart said.

In 2009, the Lake County Fair Association left its longtime home and opened a new facility on Peterson Road on Grayslake's south end. The village board approved a retail project in August 2007 that was supposed to replace the old fairgrounds on the 106-acre site.

However, the recession killed plans for an 807,000-square-foot retail plaza that would have been built by Deerfield-based SKW Capital Management and Developers Diversified Realty Corp. of suburban Cleveland.

SKW's Sid Wiener appeared before the village board in December 2015 with a new, tentative plan for the site, but nothing has occurred since. Wiener, who maintained ownership of the land since 2007, said the retail component would be joined by single-family houses, medical offices and an assisted-living facility.

Although SKW remains active in marketing the former fairgrounds and could wind up pursuing the idea pitched in late 2015, Stewart said his organization wants to be proactive in seeking as many developers as possible.

Potential developers are receiving a 13-page package of information, known as a request for qualifications, about the vacant fairgrounds. They're being asked to submit their qualifications before 3 p.m. Tuesday, Feb. 28. In it, they'll have a chance to formally express interest in all or some of the 106 acres, and provide ideas for the land.

"The village will consider providing public assistance based on the project. ... Historically, (Grayslake) has not participated in tax increment financing (TIF) districts, but has provided financial assistance in the form of infrastructure funding, sales tax sharing and business improvement district rebates," the document says.

Grayslake village officials have a vision for the property. Documents show the village would prefer restaurants, a grocery store and a movie theater, possibly with dining, on the east side near Route 45. Homes, offices, light manufacturing and medical uses are envisioned in the central and western sections.

Village Trustee Elizabeth Davies said officials have been doing all they can to get something going on the property. She said residents often ask her and other trustees about the vacant site.

"The old fairgrounds is an important property to the village, as it as a front door to our community and a blank canvas that presents retail, entertainment and tax relief opportunities for our residents," Davies said.

Stewart said the Grayslake Business Partnership will examine the developer responses and provide recommendations to the advisory economic development commission and village officials.