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The Village of Romeoville has been named a finalist for two Illinois Real Estate Journal Awards: City/Municipality of the Year and Most Significant Lease Transaction. Award winners will be announced at an event on July 22nd.
Highlights from the City/Municipality of the Year entry include the major construction projects of Crate & Barrel and Wayfair, which will bring 450-900 jobs to the Village. Mercedes-Benz and the ongoing work on Weber Road/I-55 Interchange also make the list of major projects for the year. Additionally, Romeoville filled a lot of vacant space, from bringing the Ovation Center and Scene75 to the locations of the former Target and Sam’s Club. Romeoville also saw significant progress on new single family residential development and Class-A apartment units that will help expand residency by roughly 1,000 people to help attract future commercial development.
Romeoville’s Wayfair project is under consideration for Most Significant Lease Transaction of the year. This transaction represents a $125 million dollar building construction and tenant improvement investment. Wayfair will generate millions of dollars in taxable sales from this fulfillment center and will be one the largest property tax generators in Romeoville. At 1,200,420 square feet, this lease is the largest in Romeoville’s history and one of the largest recent transactions in the region. Part of this project also includes the extension of Pinnacle Drive, connecting Renwick Road to Airport Road.
“We are honored that our recent achievements are being considered for these awards,” said Mayor John Noak. “No matter who wins, I am exceedingly proud of our staff and partners for all the development that is happening in our village.”