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Richton Park's Development Opportunities

 

The Village of Richton Park's businesses are strategically served with four high-traffic road corridors that include:

  •     Interstate 57 (Over 70,000 Average Daily Traffic)
  •     Illinois 50/Cicero (19,000 ADT)
  •     Sauk Trail (27,000 ADT)
  •     Governors Highway (17,000 ADT)

 These roadways service a diverse and affluent population of over 130,000 within a five mile radius. Additionally this market area features a daytime population of approximately 50,000 workers.

 


Lakewood Plaza Shopping Center

The Village of Richton Park owns and manages the recently renovated Lakewood Plaza, a 16,500 square foot regional shopping center located on Sauk Trail and adjacent to I-57. Leasable tenant spaces range from 1,500 to 2,700 square feet. Adjacent to this site is approximately 12 acres available for immediate development.  Existing businesses include a new Family Dollar store, a Class A 10,000 square foot office condominium building and the Lakewood Bowling center.

Other local shopping centers include - Richton Park Plaza, Governors Plaza, Popular Place, and Sauk Trail Plaza.

Town Center Mixed-use Project

The Town Center project area is adjacent to Richton Park’s Metra’s Electric line commuter rail station at the intersection of Governors Highway and Sauk Trail. The adopted plan calls for the increase of residential density and commercial intensity through substantial new real estate development.

The village controls a large portion of the properties within the designated primary Town Center development area, while also controlling properties that are located in the secondary Town Center development area. Tax Increment Financing Districts have been established to assist development projects. Additionally, the village has been successful in obtaining funding sources for redevelopment opportunities such as a recently completed rail line viaduct beautification project. 

Interstate 57 at Sauk Trail

Ideal site opportunities for light industrial, retail, medical and office space are still available with easy access and visibility from Interstate 57.

For additional information pertaining to development opportunities with the Village of Richton Park, contact the Economic Development Department at (708) 753-8820.  We’re always open for your business!




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