Elk Grove Village business park vacancies down, permit activity up

Elk Grove Village officials said this week the number of vacancies in the village's industrial park is down and business relocation and expansion activity is up.

In 2011, 174 businesses filed zoning applications to move into the village's business park, with several companies relocating from other states and nearby suburbs, officials said.

The 5-square-mile business park is the second-largest concentration of employment in the state with roughly 100,000 people commuting to Elk Grove Village for work. It encompasses a diverse mix of local, national, and international companies.

Zoning applications are a good measure of the health of the business park, Mayor Craig Johnson said.

“The vacancy rate is dropping dramatically,” Johnson said.

The village issued 2,573 permits for residential, commercial and engineering projects in 2011. It adds up to more than $75 million in construction value — up by roughly $20 million or a 37 percent increase from 2010.

This year, several new restaurants are scheduled to open in town, including White Castle, 1800 Oakton St., Hibachi Grill, 101 Busse Road, and Jersey Mike's, 100 Biesterfield Road. Construction on these businesses is under way and the restaurants will be open in the early part of the year.

Construction also is under way on a new Wingate Hotel at the corner of Landmeier and Elmhurst roads.

Johnson attributed the activity to the village's continued investment in its infrastructure.

In the industrial park, the village has spent more than $22 million on projects including for street construction, water main replacement and sewer system rehabilitation, primarily using roughly $14 million in Build America Bonds and other federal funding to borrow at lower interest rates.

“It's starting to pay off,” Johnson said. “We're seeing good businesses step up here in the business park. We're striving to become the most business-friendly community in the world.”