Portillo’s coming to Algonquin, joining Cooper’s Hawk, BJ’s Brewhouse and Raising Cane’s set for Randall Road
An architect's rendering shows how the Portillo's set for the Enclave in Algonquin, at Randall Road and Commons Drive, will look. The Village Board approved a development agreement with the site developer on Tuesday, Dec. 20, 2022.
“A Portillo’s is set to join a Cooper’s Hawk, Raising Cane’s and BJ’s Brewhouse next year in Algonquin.
On Tuesday night, the Village Board approved a development deal with the owners of the Enclave, a 13-acre commercial development set for the southeast corner of Randall Road and Commons Drive, to bring the restaurants to town.
Construction is expected to begin in early 2023 with the new restaurants hoping to open before the end of the year, Village President Debby Sosine said.
The restaurants will join tire repair business Belle Tire in the planned development.”
Village of Algonquin Illinois, NorthPoint Development Hold Groundbreaking Ceremony to Announce Algonquin Corporate Center
The Village of Algonquin, in collaboration with the NorthPoint Development, hosted a groundbreaking ceremony Thursday, June 10, to unveil the future Algonquin Corporate Center. Located at Huntley Road & Longmeadow Parkway, Algonquin Corporate Center will consist of five buildings totaling 1.69M square feet that sprawl across nearly 148 acres.
Request for Qualifications: Algonquin State Bank Building, 221 S. Main Street
Request for Qualifications:
Village Owned Property
Algonquin State Bank Building
221 S. Main Street
Issuance Date: May 4, 2022
Onsite Informational Meeting on May 31st 2022 at 2PM
Submittal Deadline: June 17, 2022 (12:00 PM)
Developer Breakfast - October 28th, 2021
The Village of Algonquin is proud to present a video describing the Algonquin Advantage, a number of different characteristics that when put together are greater than the sum of its parts and why you should choose Algonquin when looking for a place to call home. #economicdevelopment #marketing #aplusalgonquin”
Welcoming Red Mountain Group to the Algonquin Commons
Village President Debby Sosine and Community Development Director Jason Shallcross welcome Red Mountain Retail Group (RMRG), the recent purchasers of the Algonquin Commons, to the Village. With plans for a $30 million reinvestment to create more than an acre of open space and an indoor-outdoor entertainment area, the Village could not be more excited for the center to once again be a regional draw as hopes are high for a bright future.
Algonquin Commons' new owner plans to invest about $30 million in outdoor shopping center
The Algonquin Commons is seen on Thursday, June 3, 2021 in Algonquin. Matthew Apgar/Shaw Media
“The new ownership of Algonquin Commons has plans for a new entertainment area and new tenants for the currently quarter-vacant outdoor shopping center.
California-based Red Mountain Group Inc. plans to invest about $30 million for Algonquin Commons’ redevelopment, through renovation and re-tenanting, the village of Algonquin announced last month.
”We’re super excited about the indoor-outdoor covered entertainment area because we’re hoping to make that a focal point for the community so that there can be social events,” Susan Rounds, vice president of marketing for Red Mountain Group, said in an interview.
As of now, the 1-acre entertainment area will span across two buildings, in the middle of the parking lot near the Orange Theory Fitness, Sylvan Learning Center and Bonefish Grill.
In this space, Rounds said, the Red Mountain Group wants to offer televised sporting events, outdoor movie nights, outdoor dining and holiday functions.
Jason Shallcross, the village of Algonquin’s community development director, said the village is “thrilled” with the Red Mountain Group’s plans, adding the entertainment area will make the Algonquin corridor the “commercial-entertainment place to be.”
”We feel like that’s really going to be a huge draw for the center, not only locally but also regionally,” Shallcross said in an interview.
Red Mountain Group’s core business model is acquiring distressed shopping centers in need of rehabilitation.
”That’s what we’ve been doing for over 20 years,” Rounds said. “And so this opportunity became available.”
Algonquin Commons isn’t distressed in the same way other places Red Mountain Group has worked on is, but it still fits within the distressed category as it was previously bank-owned.
Shallcross said the Commons has been banked-owned for about a decade, and the Red Mountain Group bought it out of receivership.
When a center is held in receivership, any lease that needs to be renewed has to go before a judge, which Shallcross was a factor in Algonquin Commons’ vacancies.
A bank also was not going to invest money or update the Algonquin Commons, Shallcross said, making it even more exciting for the village to see the Commons come out of receivership.
Usually, Red Mountain Group buys shopping centers that are anywhere from 40% to 100% vacant. Algonquin Commons has about 25% of its spaces vacant. In comparison, Shallcross said, villagewide commercial vacancies sit around 8%.
”This is such a large shopping center that even a 25% vacancy is pretty significant, just because of the size of the shopping center,” Rounds said.
Along with the new entertainment area, Red Mountain Group is looking to re-tenant the shopping center, Rounds said.
Right now, it has a lease signed with Ashley Furniture, and two other major tenants that Rounds declined to name are expected to come to the Commons as well.
Although the COVID-19 pandemic made ordering products online and having them shipped to people’s houses easier, there still is a demand for shopping centers that offer restaurants and retail in person, Rounds said.
”Those aren’t things that you can really replace,” Rounds said. “Everybody’s ready to get out and eat in a restaurant, even if it’s outdoors.”
As for the existing spaces at Algonquin Commons, Red Mountain Group will look at freshening it up and taking care of any repairs that need to be made.
”When you drive to the center now, it’s a pretty good-looking center,” Rounds said. “But there are a few things that need to be touched up and repaired, and we’ll definitely be doing that quickly.”
Red Mountain Group expects it will have the covered entertainment area ready by the end of next summer. Ashley Furniture should be up and running before the holidays this year, if not sooner than that, Rounds said, with the other two tenants to be in place within three to five months depending on how the permit process goes.”
Red Mountain Group Aquires 600,000 SF Algonquin Commons Power Center in Suburban Chicago
The buyer plans to invest nearly $30 million on a repositioning plan for Algonquin Commons.
“ALGONQUIN, ILL. — Red Mountain Group Inc. has acquired Algonquin Commons, a 600,000-square-foot power center in Algonquin, a northwest suburb of Chicago. The purchase price and seller were undisclosed. Located at 1504-2298 S. Randall Road, the center sits on 70 acres. Built in 2004, the property is 75 percent occupied by tenants such as Trader Joe’s, Ulta, Nordstrom Rack, DSW, Pottery Barn, Victoria’s Secret, Express, On the Border and Bonefish Grill. Red Mountain plans to invest nearly $30 million for the renovation and repositioning of the asset. Plans call for an indoor-outdoor covered entertainment area with an acre of open space. While in escrow, Red Mountain executed a new lease with Ashley Furniture. The company says it is currently working with two other large-format national retailers. Red Mountain’s portfolio comprises 95 shopping centers across 18 states.”
Welcome to the Trails of Woods Creek
The Trails of Woods Creek is a 278 home residential development by Pulte Homes in the Village of Algonquin, Illinois. Located off of Algonquin Road just one mile west of Randall Road, the new homes set to be available in September of 2021 will have access to every kind of retail and amenity you can imagine. With 14 customizable home models and prices ranging from the high 200s to the mid 400s, the development accommodates all ages, lifestyles, and preferences.
The Trails of Woods Creek subdivision is located in school district 158; children will attend the Square Barn Campus for grades K-8 and Huntley High School. You can view all 14 models, options, and amenities on the official Pulte website for the Trails of Woods Creek (link below!). With 3 models open daily from 11 AM to 6 PM, come on out to find your new forever home here in the Village of Algonquin.
Click for more information:
Trails of Woods Creek, Algonquin, IL
Randall Road Pedestrian Underpass and Boardwalk
Video of The Pedestrian Underpass and Boardwalk.
Algonquin construction sites flyover
Algonquin Corporate Campus
Flyover of raw tracts of land (outlined in red) and shovel-ready sites (outlined in green) in the Algonquin Corporate Campus. Tract and lot size is depicted (in acres).
Longmeadow Parkway
Flyover of construction of the Longmeadow Parkway project in Algonquin with animated depiction of completed project. Popup factoids outline the project. Video begins eastbound on Longmeadow just east of Sleepy Hollow Road.
Main Street
Aerial view of the nearly completion Main Street reconstruction and streetscaping project, with popup factoids. Video begins on South Main near the Route 31 bypass and proceeds north to Algonquin Road. This video was shot on the day the archway was set over Main Street.
Randall Road
Aerial view of the Randall Road widening project with factoid popups. Video begins near pedestrian underpass between Harnish and Bunker Hill Roads, proceeds north to Algonquin Road, and returns south to the start.
Algonquin Celebrates the Completion of the Old Town Algonquin Revitalization Project
On Tuesday, November 19, Village officials, along with local business owners and the community-at-large, joined together to celebrate the completion of the Old Town Algonquin Revitalization Project in Historic Downtown Algonquin. More than 50 attendees gathered under the holiday lights for the ribbon cutting ceremony.
Construction Update for October 2019
Recap of various road and private development construction projects occurring in Algonquin, Illinois.