About the Central Range Economic Development Initiative
The Central Range Economic Development Initiative is designed for an approximately 900-acre area with office / retail / light industrial uses. The area is between Alleghany Road and Route 83 north of Peterson Road. Development of the project will result in a $16 million property tax surplus annually to local school districts at build out. View the Central Range Economic Development Initiative Brochure
for more information.
Central Range Economic Development Initiative Facts
The Initiative location is in Central Lake County. The area is approximately 900 acres. The Initiative area is served by state highways, strategic regional arterials, and nearby commuter rail stations.
It is projected to create 9,000 jobs. There will be specific development standards, including regulations in the areas of building design, landscaping, air emissions, noise, stormwater management, and signage. At build-out, non-residential construction will yield an estimated $16.4 million annually in property taxes to benefiting school districts.
The environmentally-sensitive development plan includes:
Financial Benefits for Area Schools
- Low overall development intensity
- Large wetland restoration project (approximately 300 acres)
- Extension of area-wide trail systems
- Required use of native plantings in landscaping
- Passive-end use plan for countryside landfill
- Strict noise standards
- Strict glare / heat standards
- Grayslake's strict air emission standard