The Biz Week That Was: Bears stadium impact, a new Costco Business Center, and federal government shutdown fallout are among the highlights
Arlington Heights could collect $15 million a year from Bears stadium, but costs still unknown
Economic impact reports released by Arlington Heights officials Tuesday show a Chicago Bears stadium and mixed-use redevelopment at Arlington Park would generate at least $15 million a year in new revenues for village coffers. But officials caution some of that new money will be needed to pay for infrastructure, village services and even new employees, and additional studies are still underway to assess costs for infrastructure, traffic and transportation.
Costco Business Center proposed for Des Plaines office park
A Costco Business Center has been proposed for Des Plaines’ southeast side, officials announced this week. DIR Development, a commercial real estate company based in Evergreen Park, is eyeing land at 2200 E. Devon Ave. and 2400 E. Devon Ave. for a 137,000-square-foot store and a Costco-branded gas station.
Consequences of the government shutdown that started Wednesday will be felt directly in Illinois where over 45,000 federal employees have jobs, stakeholders said. The fallout could disrupt travel at O’Hare and Midway international airports, impact the federal courthouse in Chicago and suspend U.S. Environmental Protection Agency pollution monitoring locally, among other problems.
State, private developers break ground on quantum research park
Shovels are in the ground for a highly anticipated project in South Chicago that its backers, including Gov. JB Pritzker, say will be transformative to a neighborhood still grappling with the loss of a steel plant more than 30 years ago. The Illinois Quantum and Microelectronics Park, a hub for quantum tech-related businesses, researchers and government programs, began construction Tuesday, with this phase of construction anticipated to conclude in 2027.
Lurie Children’s Hospital Outpatient Center celebrates opening in Schaumburg
Local officials welcomed the opening of a $60 million, 75,000-square-foot Lurie Children’s Hospital Outpatient Center in Schaumburg Tuesday acknowledging its potential affect on the community as well as the region.
New take on escape rooms set to open in Mount Prospect this November
A time travel-themed experience attempting to take escape rooms to the next level is opening in Mount Prospect around mid-November. Time Mission offers an array of team-based mini-challenges where players are tested both mentally and physically. It’s opening at 132 Randhurst Village Drive, marketing itself as a place for multi-generational families as well as corporate events.