Bolingbrook Commons Shopping Center Redevelopment To Begin

BOLINGBROOK, IL — The Bolingbrook Village Board has approved a redevelopment agreement for the redevelopment of the Bolingbrook Commons Shopping Center at Route 53 and Interstate 55.

The agreement was approved at the June 28 board meeting. Redevelopment will begin in July or August, the Village said.

The Denny's, Wendy's and liquor store will remain, and new tenants are to be determined, according to the Village.

All facades of the existing buildings will be redone, and there will be a new parking lot and new signs, as well as landscaping and greenery.

Other highlights of the agreement include:

• A new Northern Tool building
• The Hinman Company, which will develop the property, will invest at least between $10 and $12 million dollars in the redevelopment of the Shopping Center.
• The Village will continue to collect the 2.5 percent sales tax (1 percent of state taxes and 1.5 percent home rule tax) on all sales tax eligible items.
• Hinman Company will receive no reimbursement for eligible expenses on the first $6.5 million in sales.
• The Village will reimburse Hinman Company 1.25 percent of the 1.5 percent home rule sales tax on sales over $6.5 million up to a maximum of $6 million on eligible reimbursable expenses.

The shopping center will be "substantially" complete by the end of 2024, the Village said.