Elk Grove named 'Municipality of the Year' by real estate journal
Elk Grove Village is the 2022 recipient of Illinois RE Journal's "Municipality of the Year" Award, the village announced this week.
A panel of judges from the real estate industry evaluated several municipalities based on the size and scope of significant development projects over the last year, key economic development accomplishments, and how each municipality provided grants and/or financial support for real estate projects, officials said.
"To receive this distinction from one of the top real estate publications in the Midwest is a reflection of the work we do day in and day out to create a business-friendly climate where entrepreneurs, innovators and visionaries can build their businesses," Mayor Craig Johnson said in the announcement. "The award is a validation of our entire 'Beyond Business Friendly' approach to recruiting and retaining businesses and partnering with them along the way to provide them everything they need in order to grow and thrive."
The village highlighted the creation of its new Technology and Innovation Zoning District located at Northwest Point, which is designed to attract high tech and manufacturing development amid shrinking demand for office space in the region. The rezoning has already attracted interest from developers seeking to construct more than 200,000 square feet of speculative industrial space.
The Village also touted its emerging status as a national hub for data centers and the expansion of Steiner Electric, an electrical supply distributor that plans to spend nearly $11 million to construct a new, state-of-the-art building, a project expected to keep the company located in town for decades to come.
The award was announced at Illinois RE Journal's 2022 Real Estate Awards dinner last week.