Plan to redevelop former Allstate site clears hurdle
A plan to create a special taxing district that would help fund redevelopment of Allstate’s former headquarters has support from government agencies in the South Barrington area.
A joint review board consisting of representatives from village hall, Barrington Area Unit District 220, Harper College, the South Barrington Park District, Barrington Township and the public on Monday formally backed a financing proposal for improvements at the site, which is near the southeast corner of Higgins and Bartlett roads.
Cash raised within the tax increment financing district also would help bankroll improvements at the neighboring South Barrington Office Center.
The joint review board’s recommendation isn’t the final decision on the matter. More public discussions are planned, and the village board must vote on the plan.
Regardless, South Barrington Mayor Paula McCombie called Monday’s approval “welcome news.”
District 220 was the only agency to vote against the plan, said the village’s attorney, James Vasselli.
Allstate’s former buildings were razed after the company consolidated operations in Northbrook more than a decade ago. The office center has tenants.
While the office park is in South Barrington, the Allstate property is in unincorporated Cook County. The land had been in the village until it disconnected last year ahead of a redevelopment plan that later evaporated.
A company called Opus now intends to purchase the site and wants the village board to annex it. Opus has proposed constructing three light-industrial buildings there.
The proposed tax increment financing (TIF) district is a key part of Opus’ plan.
In such a district, revenue generated by a property's increasing value or new development is diverted to a fund that pays for land purchases, infrastructure improvements and other projects within the same zone for up to 23 years.
The tax district would be the village’s first.
An initial public hearing on the proposed district is scheduled for 7 p.m. Sept. 17 at village hall, 30 Barrington Road.
Ordinances needed to create the district must be publicly introduced between 14 and 90 days after any public hearings, Vasselli said.
Vasselli expects the village board will vote on the TIF district plan by early 2027.
rlissau@dailyherald.com