Business Facilities - June 2008 - (Page 42)

L ocated in Will County, among the 10 fastest growing areas of the nation, the Village of New Lenox offers business and residents a progressive local government, a key location on Interstate 80 and I-355, low Will County taxes, and an unbeatable quality of life. New Lenox is poised for industrial and business growth thanks to its convenient location. Access to U.S.Route 30 and I-80 provides connections with I-57 to the east and I-55 to the west. Rail commuters use the Metra/Rock Island line and travel time to the Loop in Chicago is less an hour from either New Lenox Metra Station. In November 2007, the IllinoisState Toll Highway Authority completed construction and opened the extension of Interstate 355 into New Lenox at a cost of $730 million. The I-355 extension provides access to the north and western suburbs and has attracted high quality develop- Village of New Lenox Economic Development Randall Lowman, Director 1 Veterans Parkway New Lenox, IL 60451-2137 Phone: 815-462-6400 Fax: 815-462-6449 Email: rglowman@newlenox.net Web: www.newlenox.net #2507 at www.BusinessFacilities.com ment to the area. Zaremba Group proposes to build a 1.1 million square foot power town at the I-355 and U.S. 6 interchange, to open in the summer of 2009. Forest City Enterprises expects to develop a 1.5 million square foot lifestyle center at the I-355 interchange with a 2011 opening date. Silver Cross Hospital is awaiting state approval to build a new 300-bed hospital on a 70-acre parcel at I-355 and Clinton Road at a cost of $450 million. Growth is happening all over New Lenox. In the Cherry Hill Business Park, OOCL is leasing Cherry Hill #4, a 282,000-square-foot industrial spec building for its Midwest distribution center. Smurfit Stone Container Co. has begun operations in a 363,000-square-foot manufacturing facility in the Cherry Hill Rail Park. Smurfit will manufacture 2 billion square feet of corrugated cardboard annually at their New Lenox facility. Along U.S. 30, the New Lenox Retail Center will contain more than 500,000 square feet of retail with Wal-Mart and Menards as anchors and more than 10 outlets. Lincolnway Creekside Crossings broke ground on a 70,000-square-foot, two-story, mixed-use building with one retail outlet. Perry Commercial is building the Briarwood Professional Center on U.S. 30 that will contain four professional office buildings. Village Station is a transit-oriented development (TOD) which is slated for development on the south end of New Lenox at the intersection of Laraway and South Cedar roads. Village Station is approved for 62 commercial acres and 836 PUD residential units on a grand total of 236 acres. This property is serviced by the Metra Southwest Service Corridor line located on the former Wabash Railroad line. In September 2006, the second Metra station in New Lenox opened at Village Station for daily passenger service. New Lenox’s population is growing as well. A special census recently was conducted and estimates the New Lenox population at 25,000 residents; it is expected to reach 100,000 by 2030. Residents have a median household income of $96,745. For the past decade, about 300 new homes have been built each year in New Lenox. Lincoln-Way West High School is under construction in New Lenox at a cost of about $100 million and will open to students in August 2009. New Lenox Elementary School District #122 and Lincoln-Way Community High School District #210 are gold medal and blue ribbon award winners. One thing that is not growing is the tax rate: New Lenox has one of the lowest tax rates in Will County (6.4216 per $100 assessed valuation) creating an opportune climate forbusiness expansion and development. New Lenox strives to balance residential, commercial, and retail growth, maintaining a healthy economy and a great quality of life. It’s easy to see why New Lenox is a logical place to operate your growing business. A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S 42 JUNE 2008 http://www.newlenox.net http://www.BusinessFacilities.com

Table of Contents Feed for the Digital Edition of Business Facilities - June 2008

Business Facilities - June 2008 Contents First Word Snapshots Metro Spotlight: Austin, TX The Greening of America Winds of Change in the Berkshires Hot Logistics Locales Metro Spotlight: New Mexico Borderplex Hollywood on the Louisiana Bayou Idaho: Gem State's Economy is Glittering Mayor's Reports New Brunswick, Canada's Export Leader Virginia: Where Business and Fun Come Together How Green Is Your Site? Maine's New Maritime Marketing Message Corporate Moves: Alabama Advertiser Index Ask the Expert

Business Facilities - June 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.