Developers given more time to finalize plans for massive Ivanhoe Village in Mundelein

Mundelein officials are giving real estate developers more time to finalize plans for the massive Ivanhoe Village residential and commercial project.

Under the terms of an annexation deal struck in 2022, the limited liability companies known as Ivanhoe Village Land Co. and Ivanhoe Farms had until Dec. 31 to obtain necessary approvals and permits for the project on Mundelein’s northwest side.

At the developers’ request, the village board on Monday unanimously agreed to extend the deadline until Sept. 30, 2026. There was no public discussion of the issue before the vote.

The extension is needed “due to the complexity of the project,” Amanda Orenchuk, Mundelein’s community development director, said in a memo.

Thousands of houses, townhouses and apartments — as well as retail and light industrial buildings — are envisioned for 773 acres near Route 60 and Peterson Road.

The project is proposed to be done in phases over 25 years. Build-out could cost $2 billion, officials have said.

The land, which is northwest of the Mundelein Crossings shopping center and near the private Ivanhoe Club, has been owned by the Wirtz family, of Chicago Blackhawks fame, since the 1850s. It's home to the Ivanhoe Nursery & Farms, a wholesale operation selling ornamental trees and shrubs.

The Wirtzes will continue to own the land and control construction.

The deal probably will be finalized before the new September deadline, Village Administrator Eric Guenther said.

The extension isn’t unusual, Guenther said, especially for a project of this size.

For more information about the Ivanhoe Village plans, visit mundelein.org/678/Ivanhoe-Village-Development-Activity.