Elk Grove Technology Park developers proposing industrial building in Hoffman Estates

The developers of the Elk Grove Technology Park are seeking to expand westward with plans for a light industrial building they believe will attract eager tenants to a high-growth area of Hoffman Estates.

Representatives of Brennan Investment Group received positive feedback this week during the Hoffman Estates village board's review of the proposed 201,600-square-foot building, which would house one to four tenants on 70 acres north of the Bystronic headquarters in the Huntington 90 Business Park.

Village trustees plan Monday to recommend that the Cook County Board approve a Class 6B tax incentive for the project, which would cut property taxes approximately in half over the course of 12 years.

But they want some assurance the project, which has no signed tenants so far, wouldn't remain that way indefinitely.

"I just don't want a building to go up and not be filled for any real length of time," said Trustee Gary Stanton, who chairs the village's planning, building and zoning committee.

"I don't think that would be a problem," said attorney Matt Holmes, representing Brennan Investment Group. "We believe the market is fairly kind of flush at this point."

Kevin Kramer, the village's economic development director, agrees. He said there are a number of high-end technology and light-industrial companies in the region ready to jump at the opportunity of new space under construction.

"If it's built, they will come," Kramer said. "There's more confidence in the industrial market than in the past 40 years."

Holmes said the tenants are expected to be similar to those already found in the Elk Grove Technology Park. The hope is to get construction started early next year, but how long it would take depends on how much the building needs to be adapted for its tenants, he added.

A data center, for instance, would require more power but none of the dock doors that a manufacturer would need, Holmes said.

Kramer added that the further growth of industrial businesses around it is likely good news for Bell Works - the neighboring redevelopment of the former AT&T campus - which is seeking to add more office and retail tenants as well as build multifamily housing in a later phase.