2017 Economic Review

 In January, staff presented an Economic Development Review to the Village Board as well as an update to Chamber of Commerce members at the annual State of the Village Address.  The following information covers some highlights of the review.

Economic activity for the last five years
and value added to the community (2013-2017) 

Money location 

Total retail sale of goods & services sold in the community has increased 32% from $228,596,059 to a projected $301,449,789, for a total of more than $1.34 billion

 upward graph  

Equalized assessed value (EAV) of property growth has increased 32% from $673,475,479 to $886,278,666

 money reinvestment  

The private sector invested more than $411,000,000 in new construction (commercial and residential) in Huntley


75 new businesses opened (or expanded) creating over 2,200 jobs

 housing increase  

Huntley remains near the top in the region with 879 new residential housing units permitted


2017 Development Activity Recap
projects approved, under construction, or completed

dining  BBQ King is investing $2 million in the new multi-tenant building and the restaurant expects to employ 60 people

Panera Bread will construct an $800,000 multi-tenant building with a drive-through and will bring over 50 new jobs to the Village

Panda Express is constructing a 2,200 square foot restaurant, an investment of $500,000

The American Legion is investing $400,000 to expand in the Downtown

location Hiwin Corporation opened a new $8.1 million facility and added 43 jobs

FYH completed a $1.9 addition, which will allow them to expand their product line and increase sales

key Alden will bring over 200 jobs to the community with a $30.7 million project

The Alden Independent Living components (Huntley Horizons and the Villas) are now open

The Horizon project cost $9.5 million and includes 64 units

Alden invested $2.1 million for the Villas which provides a total of 15 units

The $9.5 million, 60 unit Alden Memory Care is under construction and is expected to open this Spring 

Alden’s $7 million Skilled Nursing facility will also open in the Spring and will ultimately serve 110 patients

Resort Lifestyle Community’s Huntley Springs project will bring 130 luxury senior apartments at an investment cost of $21.5 million and will employ 40 people.

medical Advocate Healthcare opened a $10.5 million building and added 15 jobs

Centegra completed construction of the 80,000 square foot Medical Office Building (MOB) on the Centegra Healthcare Campus, which includes the following:

Centegra opened the $11 million MOB and added 213 jobs to the Village

Rosalind Franklin University invested $3.5 million to build-out the top 1.5 floors of the MOB for a state-of-the-art Medical Simulation Center 

Davita Dialysis completed a $1.2 million buildout for a new office in the MOB

retail Verizon will construct a 2,543 square foot freestanding retail store at a cost of $700,000

O’Reilly Auto Parts will be constructing a 7,927 square foot freestanding retail store

Total private sector investment during 2017: $92.8 million with the addition of over 610 jobs