40 Investors Tour Downtown Joliet's Revitalization

JOLIET, IL - About 40 real estate investors visited downtown Joliet on Tuesday afternoon for a 90-minute walking tour led by Steve Jones and Derek Conley, economic development officials at Joliet's City Hall.

The group tour began at the world-class Rialto Square Theatre. Here, Jones and Conley gave a slide show presentation highlighting more than a half dozen noteworthy economic development projects taking place downtown or along the Collins Street corridor.

The projects included the Old Joliet Prison tourism as well as the city council's recent agreement with El Guera to fill the grocery store vacancy on Jackson Street, at the site formerly occupied by the Certified Warehouse. The agreement with El Guera calls for a complete remodeling of the entire shopping center plaza on the city's east side, the investors were told.

Jones and Conley stressed that the city has a variety of financial incentives available for potential investors in the downtown, notably for projects that involve renovations and rehabilitation of the city's older buildings.

The potential investors were split into two groups of 20. Jones showed off the recently restored Barber Building on North Chicago Street, which includes 35 loft apartments, of which every single one has been rented out.

The former Barrett's Hardware Store on North Ottawa Street is now in the early stages of being converted into an 86-unit Marriott's hotel, which will be a huge asset for the Harrah's Casino & Hotel, which is roughly a block away.

A fifth and sixth floor will be added to the Barrett's building in the coming months. The former Montgomery Ward department store building currently being renovated by Noe Patino and the Plaza Hotel across from the Joliet Public Library were also topics of discussion in Jones' group.

The main theme on the tour: things are happening in downtown Joliet, and there's still opportunities for investors and entrepreneurs to get in on the action.