Lake in the Hills pushes commercial development
LAKE IN THE HILLS – Five months after being brought on to spur commercial development in the village, its economic development coordinator has made contact with about 20 representatives of commercial properties, according to a report to the Village Board.
Coordinator Gino DeVivo has discussed the sites’ commercial possibilities and ways to promote investment in the properties.
Among the goals of the village’s economic development plan are proactive communication with representatives of available sites, identifying the best possible retailers for target areas, promoting target areas to retailers and investors, and effective marketing to recruit businesses.
The village’s economic development plan identifies eight target areas for economic development: Route 31; Rakow Road near the airport; Randall Road; the intersection of Pyott and Algonquin roads; Route 47; Ackman Road; the area around Algonquin and Lakewood roads; and Harvest Gate and Algonquin Road.
“We are actively working with property representatives to overcome past development obstacles ... and promote new commercial corridors,” DeVivo’s report said.
The village also has researched and obtained retail market reports that provide sales opportunities and market analysis for each area.
Village employees have generated a mailing list of commercial brokerages, investors and best-fit retailers while conducting research on a direct mail campaign.
Village representatives also have attended three commercial/retail marketing events that resulted in about 40 contacts.
“Attending these events gives the village an opportunity to network and develop leads with retailers, brokers, developers and investors who could be a good fit for the village,” DeVivo’s report said.
The village has created a display that discusses its target areas, traffic counts, desired businesses and existing businesses.
The village also ran advertised online in the Chicago area for three weeks and targeted municipalities such as Naperville, Oakbrook, Schaumburg and Orland Park, which have a high concentration of businesses that may be interested in Lake in the Hills.