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Rosemont's Pearl development starting to take shape

The Pearl, Rosemont's new 16-acre mixed-use development of restaurants, offices and a hotel at Balmoral Avenue and the Tri-State Tollway, will soon begin to take shape.

The village board Wednesday approved more than $5 million in contracts for underground stormwater detention and paving work, including streets, service drives and parking lots for the development.

One of the first buildings, the 3-story, 45,000-square-foot headquarters of chicken processor Koch Foods, received height and sign variations that will allow its construction to begin.

The company, which supplies chicken to restaurants including Ruby Tuesday, T.G.I. Friday's, and Applebee's, is moving its headquarters from Park Ridge to Rosemont. Starting in 1984 with 13 employees, Koch has grown to a $3 billion business, according to Mark Kaminsky, the company's chief operating officer.

As many as 60 employees will work at the new Rosemont headquarters, with the potential of adding up to another 40, he said.

Mayor Brad Stephens said office users were sought for the mixed-use development to drive daytime traffic.

Village officials also met Wednesday morning with members of the Janko Group, which is developing a 5-story, 163-room boutique hotel at The Pearl. The hotel hasn't been named yet, but will be an independent brand. It will be the closest hotel to O'Hare International Airport after the Hilton Chicago O'Hare.

Stephens said a number of restaurant groups have expressed interest in The Pearl. Negotiations continue with proprietors of Buddy V's Ristorante, an Italian restaurant and bake shop named for investor Buddy Valastro, the reality TV star known as the "Cake Boss."

Braden Real Estate, a Chicago-based development firm, is working on deals with Buddy V's and other potential eateries, and plans to bring a final package to the village once agreements have been completed, Stephens said.

The village board previously approved redevelopment agreements giving village-owned vacant land to The Pearl developers at no cost. Officials expect to recoup those costs, as well as expenses for streets and utilities, through revenues generated by the village's eighth tax increment financing district.

Development of The Pearl is expected to be complete in the summer or fall of 2017.

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