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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 space ranges from 1,500 to 3,000 square feet. Adjacent to this site is approximately 12 acres for additional development.  Existing businesses include a new Family Dollar store, a Class A 10,000 square foot office condominium building and the Lakewood Bowling center.

Additional shopping centers include - Richton Park Plaza, Governors Plaza, Popular Place, Save A Lot Plaza, and the Cicero center.


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 all properties within the primary development area, while also controlling properties that are located in its secondary development areas. Tax Increment Financing Districts have been established to assist the project. Additionally, the village has been successful in obtaining funding sources for this redevelopment opportunity including a recently completed rail line viaduct beautification project, funding through the Illinois EPA to assist with a vital Brownfield remediation projects, and appropriations to prepare engineering for a new 600 vehicle mixed-use parking garage structure.


Interstate 57 at Sauk Trail

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


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




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