Mayor: Business investment strong in Rolling Meadows
Not as many new businesses opened in Rolling Meadows in 2015 as in previous years, but business development activity in the city was stronger than ever, Mayor Tom Rooney reported Monday during his annual speech to the city's chamber of commerce.
Last year, 58 new businesses opened in the city, down from previous years when as many as 80 or 90 opened.
However, Rooney said an important number to look at is the dollar figure for business development in the city. In 2015, that number was $96 million, he said.
"That was a number we saw and just said 'Holy smokes,'" Rooney said.
Half that number, $48 million, was the amount Arthur J Gallagher & Co. has put into renovating its new headquarters along Golf Road.
"It's one of the move impressive projects I've ever seen, but more important it's a project with heart," Rooney said of the insurance giant's decision to move its headquarters and 2,200 employees from Itasca. "This is a company that was homegrown in Rolling Meadows and wanted to come home. We're thrilled to have them back home with us."
Gallagher is expected to occupy the campus at 2850 Golf Road in early 2017. Rooney highlighted other developments coming to fruition in 2016, such as the upcoming opening of Bulldog Ale House in the former Chili's at 1480 Golf Road. He said the restaurant will feature two patios for outdoor dining, a rarity in Rolling Meadows.
A large parking deck at Continental Towers - which can be seen from I-90 - is nearing completion as 900 Verizon employees from Elgin are set to move to Rolling Meadows soon. Also, Comet, a long-planned ice cream drive-up along Kirchoff Road, is scheduled to open by July 4 after several years of delays, Rooney said.
No matter the good news, the mayor admitted that the number one business question is always about the long-vacant former Dominick's along Kirchoff Road.
In previous years Rooney has used his annual speech to break good or bad news about various plans for the 11-acre property, but on Monday he said its future is unknown.
South Bay Partners, a senior housing developer, is under contract to buy the property, pending city council approval of a plan that could provide hundreds of residential units in a mixture of assisted, independent and memory-care living.
During a preliminary meeting in January, the council was split on the proposal. Some aldermen want the land to remain zoned for commercial use in hopes of getting retail back on the site, while others are ready to see anything rather than a vacant store at what has become a sore spot in the middle of town.
The council will discuss the proposal again in April.
"I don't think anybody knows how this is going to go," Rooney said.