How two villages worked together to bring a high-end jeweler to Deer Park
It often takes a village to make a business development happen. In the case of the new Persin & Robbin Jewelers in Deer Park, it took two.
The 6,540-square-foot store will open next year at the southeast corner of Lake-Cook and Quentin roads, thanks in part to intergovernmental cooperation between Deer Park and Palatine.
The villages were able to get around the stumbling block of a property consisting of three parcels, one in Deer Park and two in Palatine, by taking steps to bring the entire property within the boundaries of Deer Park.
Those steps began with a complex agreement between the villages and a developer, under which Palatine will receive a share of the sales taxes generated by the jeweler and compensated for its property tax losses. Palatine, in return, will provide water and sewer service to the property.
Deer Park officials signed off on the development in late September, and the Palatine village council last week approved disconnecting the property from the village.
Officials say the deal benefits both towns. For Deer Park, it means snagging a store that specializes in Rolex and Tudor watches that will fit in well with a corridor that includes the Deer Park Town Center.
Village Administrator Beth McAndrews said the store projects $200 million in revenue over its first 10 years.
"We couldn't be more thrilled," she said. "It brings a beautiful flagship destination Rolex jeweler to the area."
Palatine, she added "has been wonderful" to work with.
Palatine Village Manager Reid Ottesen said the site sat dormant for 20 years, due in large measure to it straddling two communities, neither of which could do anything meaningful individually.
"There were a number of different ideas that have kind of come and gone, and I think that what ended up coming to fruition is something that both towns can be very happy with," he said. "Very low demand on services and good revenue generation for the two communities."
It will be the second location for Persin & Robbin, which will continue to operate out of its longtime home in Arlington Heights.