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Taking the Pulse of Lake County, Illinois’ Real Estate Market

, Date: April 22, 2025

We are fortunate to have the opportunity to host Lake County’s public sector decision-makers for quarterly workshops, thanks to the support of our partners at Libertyville Bank & Trust Company, N.A., Real estate is always a popular topic, which is why 70+ city managers and senior staff gathered together to get insights on the latest trends in industrial, office, retail and housing.

The panel discussion –featuring insights from Sam Badger at CBRE, Gordon Lamphere at Van Vlissingen & Co, Kevin Micheli at Charles Hall Construction, and Brenden Reedy at Mid-America—was wide-ranging, but a common theme quickly emerged: when the public and private sectors work together, we can leverage key resources like talent, strengthen the community’s economic landscape, and create a dynamic and resilient business climate.

“We are proud supporters of this meeting series as it provides an excellent forum to dissect complex topics, explore best practices, and provide scalable tools that municipal leaders can use to drive economic development,” said Steve Madden, CEO at Libertyville Bank & Trust Company, N.A., North Region Market Head at Wintrust Financial Corporation and Chair of Lake County Partners’ Board of Governors. “This particular meeting was enlightening because it delved into the current state of real estate, while also forecasting changing space needs and shifting consumer preferences. This intel that will keep Lake County and Chicagoland at the forefront of growth.”

Overall, panelists painted a picture of a resilient market in Lake County—one that has adapted to post-pandemic realities, leaned in on its strengths, and confronted challenges. Here are a few of the biggest takeaways:

The Industrial Market: A Consistent Performer

“The industrial sector in Lake County has remained consistent and in-demand, demonstrating robustness both before and after the COVID-19 pandemic,” noted Sam Badger, Senior Vice President at CBRE. “According to recent analysis, the submarket boasts a remarkably low vacancy rate of 4.5%. This figure is notably healthy, indicating strong demand and limited available space compared to many other submarkets.”

While southeastern Wisconsin’s industrial real estate along the I-94 corridor enjoys higher visibility, the Lake County and southeastern Wisconsin markets are comparable in overall size. However, Lake County currently benefits from a tighter vacancy rate, suggesting a particularly strong demand within its borders.

A key differentiator and competitive advantage for Lake County’s industrial market is its specialized and abundant talent pool. Panelists underscored the area’s high quality of skilled labor and work ethic, observing that many businesses view it as a significant community asset. Indeed, Lake County is home to a significant presence of industries like pharmaceuticals, food processing, and high-tech manufacturing. This concentration of skills means Lake County is the preferred location for companies in need of an abundant and highly skilled workforce.

The Office Market: An Evolving Landscape

“Lake County has celebrated a number of office wins in recent months, but the sector is undergoing a significant transformation,” noted Gordon Lamphere, Vice President at Van Vlissingen & Co. “We are seeing demand for conversions, and this adjustment is a positive development as it creates new development opportunities and helps balance supply and demand.”

Furthermore, Lamphere emphasized the crucial role of community in the success of office spaces. He stressed that “no building is an island” and that a consumer-centered approach is paramount. People are motivated to work in environments where they want to be, and it is clear that neighborhood characteristics, walkability, amenities, safety, and access to retail is of the utmost importance.

Fortunately, this has worked in Lake County’s favor as the community has much to offer in terms of vibrant, well-connected office environments that cater to the workforce needs and desires.

Lake County’s office market is also bolstered by the high concentration of Fortune 500s and headquarters. In particular, life science and biopharma are significant economic drivers, and they rely on Lake County’s deep talent pool and top ranked communities and schools.

The Retail Market: Resilience & Refinement

“The retail sector in Lake County has demonstrated remarkable resilience and adaptability in the face of COVID-19 challenges and the subsequent recovery,” reported Brenden Reedy, a Principal at Mid-America Real Estate. “The period of upheaval inadvertently created new opportunities for retail, and the interplay between brick-and-mortar and digitally native brands has been synergistic when it comes to awareness and engagement. Physical presence will always be valuable, as it creates a touchpoint for customers.”

Interestingly, Reedy noted, e-commerce businesses are increasingly recognizing the value of physical locations, with brands like Wayfair, Amazon, Warby Parker, and Vuori expanding their real estate footprint. Post-COVID preferences are also shaping the look and feel of retail, with a growing demand for drive-thru options and a shift towards smaller store formats, even among grocers. There are exciting developments on the horizon, with plenty of opportunities for new players to fill existing gaps in the market.

There is a clear shift in demand towards the suburbs, with Chicago-based brands increasingly establishing a presence in these areas. Residents are also showing a preference for spending time and money closer to home, particularly in activated areas near train lines.

Lamphere corroborated this, citing recent deals where proximity to major transit hubs, specifically within a 5-minute fixed walk, was a crucial factor for site selection, especially when attracting younger talent.

Expect to see convenience, accessibility, and visibility remain critical factors for retail success. The physical condition of retail spaces and the creativity of their design are also crucial for attracting users. In aptly noting that “redevelopment is new development,” Reedy emphasized the trend of older shopping centers being renovated and reimagined to meet contemporary demands and house more service-oriented tenants alongside traditional retail. Communities that adapt to accommodate shifting changes in use will enjoy the most wins.

The Housing Market: Affordability & Density at the Forefront

“Affordability is a chief concern in Lake County’s housing market,” according to Kevin Micheli, President at Charles Hall Construction. “First-time homebuyers are facing significant challenges in entering the market, often being outbid by cash buyers. A substantial portion of the rental market comprises individuals aged 21-31 and empty nesters, indicating a diverse demographic within the multi-family sector that can have a minimal impact on schools.”

Micheli noted that zoning and density regulations are playing a significant role in shaping the housing market, and rising construction costs, inflation and labor will have a major impact. To keep price points competitive, developers are shrinking multi-family units, with the most popular ranging in size from 550 to 700 square feet. Impact fees levied on developers can pose challenges to project feasibility; however, Community Development Block Grants and TIF can be valuable tools for funding improvements, thereby alleviating some of the financial burden on developers.

Lake County is an Opportunity-Rich Market

The region’s skilled talent pool is front and center when it comes to business retention and attraction, and vibrant communities and accessible housing will be critical to ensuring that companies have the workforce they need to grow and accommodate industry changes. The insights shared by panel experts help local leaders tease out these nuances so that they are ready to navigate and succeed in an evolving market.

“Based on this enlightening conversation, it is clear that Lake County’s real estate market is benefitting from forward-thinking, savvy leadership in both the public and private sectors,” summarized Lake County Partners’ Senior Business Development Director Ron Lanz. “When Lake County Partners brings both camps together in this fashion, opportunities abound.”

Click here to connect with us and see how we can help you tap into the unlimited potential of Lake County, Illinois’ real estate market.

Lake County Joins State Trade Delegation to Mexico

, Date: April 18, 2025

Earlier this month, Lake County Board Chair Sandy Hart joined Illinois Governor JB Pritzker, Lieutenant Governor Juliana Stratton and a delegation of public and private sector leaders on a trade mission to Mexico. The trip focused on strengthening economic ties and fostering greater collaboration to create opportunities that will benefit communities across the state, including right here in Lake County.

The mission, organized by Intersect Illinois, the state’s economic development organization, connected the delegation with leaders in agriculture, finance, education and government. These relationships help open doors for future business collaborations, attract new investments and ultimately fuel job creation and economic growth throughout Illinois.

One of the highlights of the trip was the Governor renewing the long-standing memorandum of understanding with the state of Mexico to strengthen the trade relationship with Illinois in the areas of manufacturing, agriculture and supply chains.

The delegation also met with manufacturers that play a critical role in the energy supply chain. Many of these companies expressed interest in expanding to Illinois, bringing new production facilities to the state.

Centrally located, Illinois is a global economic powerhouse with its access to transportation infrastructure. This includes having the top airport in domestic connections, one of the largest rail corridors, the third largest interstate highway system in the country and access to major waterways including the Great Lakes.

In addition to its transportation advantages, Illinois is a national leader in agriculture. The state ranks first in the country for private food manufacturing research and development, agricultural feedstock and industrial biosciences employment. Illinois is also the third largest agricultural exporter, totaling $13.6 billion in agricultural commodities. To further strengthen the sector, Illinois has invested $680 million in industrial fermentation and agriculture biomanufacturing.

Illinois has worked to expand trade with Mexico through initiatives such as Illinois’ State Trade and Export Promotion program, according to the governor’s office. Trade between Illinois and Mexico exceeded $32 billion last year, making Mexico Illinois’ second largest export market and third largest import market.

“It was an honor to be part of Governor Pritzker’s trade mission to Mexico,” said Hart. “I was impressed by the strategic efforts of Intersect Illinois, which is making it clear that Illinois is open for business. Here in Lake County and across the state, we are committed to expanding economic opportunities that strengthen and benefit our families, businesses and communities.”

Economic development is a top priority for Lake County. The County works closely with partners such as Lake County Partners, the Lake County Workforce department and the Lake County Visitors and Tourism Bureau to drive economic growth through business partnerships, help individuals access meaningful employment and increase tourism.

Leveraging Local Funding To Fuel Economic Mobility in Lake County, Illinois

, Date: April 8, 2025

As part of an ongoing effort to shine a spotlight on the many nonprofits, organizations, partnerships, foundations and philanthropies that are working together and investing in Lake County to strengthen the community and position it for long-term success, we have invited our friends at the Lake County Community Foundation to discuss how they help support local business and talent. This is the first in a series of ongoing blog posts highlighting the Lake County Community Foundation.

The Lake County Community Foundation (LCCF) was established in 2003 to improve the quality of life for those who live and work in Lake County by mobilizing resources, building partnerships and supporting innovative solutions to pressing community needs. More than two decades later, LCCF continues to transform our community through our service as a convener, connector and catalyst for positive change throughout the region.

“Since our founding, we have worked to build a sustainable model for collective philanthropy in Lake County,” says LCCF’s Executive Director, Maggie Morales. “With over $25 million in assets and more than $15 million invested into local nonprofits, LCCF has played a vital role in supporting organizations that directly impact the quality of life for Lake County residents.”

As a cross-sector coordinator, LCCF leverages its connections to drive strategic investments and foster innovative partnerships. “Our role goes beyond grantmaking,” Morales explains. “We serve as a hub for knowledge-sharing, bringing together nonprofits, businesses, policymakers and community leaders to address critical issues such as community crisis relief, social support services, gaps in economic development, community wealth-building, workforce development and health equity.”

In recent years, LCCF has taken bold steps to expand its reach and enhance its impact and in the next year will conclude its Campaign for a Thriving Lake County, a five-year $16M initiative to anchor LCCF as a permanent charitable resource for Lake County. “The campaign has allowed for exciting growth. It has increased our capacity to launch and accelerate programs such as the Small Business Growth Initiative (SBGI), strengthened our network of philanthropic partners, expanded offerings and services for local funders and increased our community leadership and collective impact work,” explains Morales.

LCCF’s success is deeply rooted in its ability to foster collaboration among donors, businesses, and nonprofits. “Through our funding priorities, we intend to ensure that all residents have access to resources, opportunities and pathways to success. By harnessing the power of endowments, donor-advised funds and other philanthropic tools, we ensure that charitable resources stay here in Lake County and continue to grow and evolve to meet the emerging needs of our community,” Morales shares.

In 2024 alone, LCCF awarded over $1 million in grants to support nonprofits tackling food insecurity, affordable housing, early childhood education, workforce training programs and more. “It’s not just about writing checks—it’s about building sustainability and creating systems, in partnership with many community stakeholders, that allow our community to thrive long-term,” notes Morales.

Many businesses have joined the Foundation’s mission by contributing to endowments, or “forever funds,” participating in volunteer opportunities and exploring how their Corporate Social Responsibility strategies align with LCCF’s key initiatives. “Corporations and businesses are a crucial part of Lake County’s ecosystem,” Morales shares. “When our businesses invest in their local communities, and by extension, the well-being of their workforce, Lake County becomes stronger.”

As LCCF looks ahead, the organization remains steadfast in its commitment to being a trusted steward of charitable resources. “Lake County’s needs will continue to evolve, and so will we,” shares Morales. “We are committed to ensuring that philanthropy remains a powerful force for good—today, tomorrow and for generations to come.”

Click here to learn more about The Lake County Community Foundation, access resources relevant to your business and explore partnership opportunities that help create a stronger, more vibrant community.

Growing Small Businesses in Waukegan & North Chicago

, Date: April 7, 2025

In 2021, The Lake County Community Foundation (LCCF) and Allies for Community Business (A4CB) launched the Small Business Growth Initiative (SBGI) to support small businesses in historically disinvested communities within Lake County by infusing financial, relational and human capital.

The SBGI program provides entrepreneurs with a four-month learning cohort, including a $30,000 grant and in-person sessions on key business topics like financial management, capital streams and operations. Participants also receive tailored resources, referrals and technical assistance. After completing the program, they can continue engaging with partners and peers to support long-term growth.

The application for SBGI’s 2025 cohort is currently open through April 11. Entrepreneurs with businesses located in Waukegan or North Chicago in eligible industries are encouraged to apply today! The learning cohort will take place from May to September 2025. Apply today at sbgilc.org.

“At LCCF, we believe small businesses are the heartbeat of thriving communities. Through the Small Business Growth Initiative, we’re not just investing in businesses—we’re investing in the people, culture and resilience that make these communities strong. By building on existing strengths and providing the tools, connections and capital business owners need to grow, we are working alongside entrepreneurs to create a more vibrant economic future for communities,” said Courtney Combs, Director of Strategy & Community Impact at The Lake County Community Foundation.

SBGI program goals include creating pipelines of entrepreneurship in historically disinvested communities and increasing economic development and community engagement. SGBI program graduates include coffee shop Drip & Culture, restaurant Big Ed’s BBQ, floral shop Pope’s Florist & Gifts and women’s gym WWM Fitness. Many participants’ businesses have a community focus, such as giving back through food donations, youth training and more.

Allies for Community Business (A4CB) joined the program as a partner in 2021 to provide a grant to the first grant recipient, Drip & Culture. Since then, A4CB has supported SBGI by providing coaching services to SBGI participants as well as providing entrepreneurs in Lake County with access to its services. Located on Chicago’s West Side, A4CB is a community development financial institution that provides capital, coaching and connections to entrepreneurs throughout Illinois and Indiana. Over 2023-2024 and via two SBGI cohorts, 12 small business owners obtained a $30,000 grant to launch and scale their business initiative and received free 1:1 coaching from A4CB’s business coaching team.

“The Small Business Growth Initiative creates an opportunity for Lake County business owners to step away from day-to-day operations and take time to strategize about how to achieve their goals,” said Rowan Richards, Director of Business Coaching at A4CB. “SBGI is a community of like-minded business owners, mentors, and coaches who provide a unique support system that many founders have difficulty finding.”

A4CB also offers term loans and lines of credit between $500 and $100,000 to early, emerging and established businesses in Lake County. Between 2023 and 2024, A4CB served 400 entrepreneurs and funded 65 loans totaling $650,000 in Lake County. As a mission-driven nonprofit, A4CB is different from other lenders. A4CB does not use credit scores and does not judge the value of personal assets. Instead, A4CB evaluates how well entrepreneurs have managed their debt over the past two years and how much cash entrepreneurs have available to make monthly loan payments. To learn more about A4CB’s small business lending, visit a4cb.org.

Chicagoland Named #1 U.S. Metro For Corporate Relocation for 12th Consecutive Year

, Date: March 3, 2025

Chicago has once again been named the number one metro in the U.S. for corporate relocation and investment by Site Selection Magazine, marking its 12th consecutive year at the top. This ranking—based on project count—highlights the region’s global economic strength, business-friendly environment, and deep talent pool. These competitive advantages are championed worldwide by the Greater Chicagoland Economic Partnership (GCEP)—a collaboration between the city and seven surrounding counties (Cook, DuPage, Kane, Kendall, Lake, McHenry, and Will)—established in 2023 to drive investment and business expansion across the region.

World Business Chicago reported a total of 140 “pro-Chicagoland decisions,” in 2024, comprising 110 expansions and 30 relocations or new market entries, resulting in the creation of over 14,800 jobs. “The Chicago region’s competitive advantages continue to include logistics infrastructure, a highly skilled and diverse workforce, strong legacy and emerging industries, and world-renowned academic and research and innovation institutions,” said Adam Bruns, editor in chief of Site Selection Magazine. “One underlying reason behind Chicagoland’s perennial strong performance in our Top Metros rankings: how Daniel Burnham’s original plan and vision continue to resonate through generations of business locations, architecture and infrastructure.”

Chicago’s quantum leap into the future was solidified in 2024 with one of the most transformative pro- Chicago business decisions of the year—PsiQuantum’s selection of Chicago as the home for its first utility-scale quantum computing site in the U.S. Announced last summer by Illinois Governor JB Pritzker and Chicago Mayor Brandon Johnson, alongside federal, state, and local leaders, this milestone cements Chicago’s position as a global hub for quantum technology and emerging industries. Located at the USX site on the city’s South Side, the quantum campus represents a bold investment in next-generation innovation, bringing together world-class research institutions, national labs, and industry leaders to 2 drive breakthrough advancements. With PsiQuantum as the campus’ first anchor tenant, Chicago is poised to lead the charge in the quantum revolution, accelerating economic growth, high-tech job creation, and scientific discovery.

“When we set out to choose the location for our first utility-scale quantum computing site in the U.S., Chicago quickly rose to the top—not just for its infrastructure or geography, but because of the extraordinary leadership and shared vision at every level,” said Josh Richman, Executive Vice President, Market Development, PsiQuantum. “The seamless collaboration between the state, county, and city— alongside world-class universities, national labs, and industry partners—was a masterclass in execution, led by Governor Pritzker and Mayor Johnson. Chicago is cementing its status as a global innovation powerhouse, and we’re proud to play a role in shaping its future.”

As the leading quantum computing company focused on building the first useful, error-corrected quantum computer, PsiQuantum will drive innovation, competitive research, and economic growth in Illinois.

“Chicago’s number one ranking by Site Selection Magazine is based on real data—proving we’re winning in the metrics that truly matter,” said Chicago Mayor Brandon Johnson. “As the biggest 2024 project counted in this ranking, PsiQuantum’s decision to anchor its new quantum campus on the Southeast Side shows how companies are choosing Chicago for its talent, infrastructure, and strong business ecosystem at every level. Even more importantly, this major quantum investment has innovators around the world taking notice, and I am thrilled this development will revitalize and bring attention to a neighborhood that has been left out of economic development for far too long. We are committed to building upon the successes that have earned Chicago the number one spot and ensuring that all people can reap their benefits.”

“This milestone underscores what we at World Business Chicago and our partners in the Greater Chicagoland Economic Partnership already know—businesses continue to choose Chicagoland because they see opportunity here,” said Phil Clement, President & CEO of World Business Chicago. “With a diverse and highly educated workforce, a robust transportation and logistics network, and a strong innovation ecosystem, our region provides companies with everything they need to succeed.”

“Year after year, Chicagoland proves itself as the premier destination for companies looking to establish, expand, and invest,” said Kevin Considine, Chair of the Greater Chicagoland Economic Partnership and President & CEO of Lake County Partners. “Our collaborative approach ensures that businesses, regardless of their location in the region, have the resources and support to grow.”

One Region, One Vision

Greg Bedalov, President & CEO of Choose DuPage: “For me, this reinforces an idea that many of us have been preaching for years: Regional collaboration works. When we come together as one Chicagoland, we have a stronger voice, we have a richer narrative, and we have a bigger, better value proposition, one that top businesses can’t ignore. If you want to see the impact of this collaborative approach, look at companies like Jel Sert. In 2024, Jel Sert expanded its West Chicago operations, retaining nearly 1,000 jobs and creating dozens more. GCEP played an integral part in that. And while the outcome was good for West Chicago, it’s also good for the entire Chicagoland region. When we retain, grow, and attract businesses here, we all win.”

Michael Buehler, McHenry County Board Chairman: “Site Selection Magazine’s accolade is further confirmation that the Chicago Metro area attracts world-class companies because of its world-class workforce, infrastructure and business climate. As we’ve seen in McHenry County in recent years with the expansion of General Kinematics, GCEP’s partnership model to attract new businesses and foster their growth makes us more and more attractive to job creators and investment. McHenry County is proud to join our county and municipal partners in celebrating this honor.”

Scott Gengler, Kendall County Board Vice Chairman: “The spirit of collaboration that GCEP brings to the entire Chicago region has brought real results in attracting businesses to Kendall County and all counties across the Chicago region. We aren’t surprised to see the area again recognized by Site Selection Magazine. The greater Chicago region has so much to offer businesses, and we are happy to continue to be a part of that success.”

Sandy Hart, Lake County Board Chair: “This latest accolade from Site Selection Magazine confirms what we’ve long known: our collective strengths—diverse talent, connectivity, and a spirit of innovation—make the Chicago Metro area a magnet for world-class companies. In Lake County, expansion projects like those at Sysmex America, Inc. and ZF Industries are examples of how GCEP’s partnership model accelerates growth across the region, resulting in new and retained jobs and significant capital investment in our community. I’m proud to join my fellow leaders in applauding every county, city, and neighborhood that contributed to this outstanding achievement.

Toni Preckwinkle, Cook County President: “Cook County is proud to have played a role in the Chicago Metro area being named the top U.S. metro for corporate relocation once again by Site Selection. The 2024 decision by PsiQuantum—a California-based startup—to anchor the Illinois Quantum and Microelectronics Park in Chicago demonstrates how GCEP’s unified approach to business attraction and investment continues to pay off. This park will revolutionize our ability to process complex data regarding traffic management, health care, finance and more. Congratulations to our entire region for this well-deserved recognition and thank you to Site Selection for celebrating our shared successes.”

Jennifer Bertino Tarrant, Will County Executive: “The Greater Chicagoland Economic Partnership is delivering positive results for the region by increasing the number of high-wage, sustainable jobs for our residents. The Chicagoland area is a national economic powerhouse with a proven track record of attracting corporate expansions and relocations, such as 4 Voortman Steel Machinery’s $54 million dollar investment into new jobs for eastern Will County last year. I applaud the collaboration between our partners, which has led to our region being named number one in the nation for corporate relocation for the 12th year in a row.”

Corinne Pierog, Kane County Board Chairman: “A year ago, Kane County was seeking a unified approach to economic development, and we’ve successfully embraced that opportunity through strategic partnerships, including with the Greater Chicagoland Economic Partnership. We are now targeting investments and utilizing regional data, thanks to GCEP, to produce outcomes that benefit the residents of Kane County by attracting high-paying jobs, supporting industry, and driving long-term prosperity for our region.”

How 2024 Marked Another Year of Progress in Chicagoland

, Date: February 28, 2025

The Chicago Metropolitan Agency for Planning (CMAP) has long been a leader in shaping the future of Chicagoland. As the official regional planning organization for northeastern Illinois, CMAP is responsible for guiding sustainable growth and ensuring the efficient and equitable development of the seven-county Chicago metro region and its 8.6 million people across 284 municipalities.

Chicagoland is one of the largest and most diverse metropolitan areas in the United States. CMAP is charged with ensuring a thoughtful approach to protecting and advancing the needs of all — through initiatives related to infrastructure, housing, the environment, the economy and overall quality of life. This effort is complex and requires thoughtful, long-term planning and coordination.

“Collaboration with partners, including the Lake County Board, Lake County municipalities, Lake County Partners and others, is the foundation of our vision,” notes Erin Aleman, CMAP’s Executive Director. “Engaging the community is at the heart of what we do, and it helps us remain forward-thinking and mindful of challenges and opportunities in the region. We have to carefully balance the needs of urban and suburban areas, and strategically approach long-term growth.”

Serving, Strengthening and Empowering Our Region

With the CMAP Board and transportation, transit, and government partners across northeastern Illinois, CMAP has served the region for twenty years through strong planning, policy, research, and analysis — leveraging the power of data and the story it tells while advancing solutions together. The agency takes stock of its work through its annual report, celebrating a year of serving, strengthening, and empowering the region. Major accomplishments in 2024 included:

Transportation and Infrastructure Investments

One of CMAP’s primary focuses is a transportation system that works better for everyone — essential for a region with the size and diversity of Chicagoland. In 2024, CMAP continued to advocate for investments in public transit, roadways, and bicycle infrastructure to improve mobility, reduce traffic congestion, and foster connectivity. Several 2024 wins included:

  • Maximizing federal dollars by collaborating and prioritizing projects like improvements to CTA stations, Metra rail vehicles, and Pace’s zero-emissions fleet;
  • Programming $385 million over five years for road maintenance, bridge repairs, intersection improvements, and more through the Transportation Improvement Program:
  • Improving traffic safety in Chicagoland through the Safe Travel for All Program to help decrease deaths and serious injuries on our roads; and,
  • Advancing the Plan of Action for Regional Transit, to strengthen and invest in northeastern Illinois’ transit system and avert a projected $730 million shortfall in 2026.

Environmental Sustainability and Climate Resilience

CMAP stressed the importance of climate action planning for Chicagoland, to support resilience planning and reduce emissions. CMAP developed two critical guides to help identify, prioritize, and integrate equity through its Risk-based Vulnerability Assessment and Integrating Equity into Flood Investments guide.

Economic Development and Workforce Access

Chicagoland’s talent stands out among its competitors as a reflection of strategic efforts to provide people with the skills that they need to grow careers and support business. In 2024, CMAP developed resources like the Job and Quality Access Tool, to help local leaders plan for and invest in Chicagoland’s workforce and economy. Additionally, CMAP supported economic development for entrepreneurship initiatives via the Greater Chicagoland Economic Partnership, which contributes to a more resilient economy and fosters regional collaboration for shared resources and sustainable growth.

Looking Ahead: CMAP’s Vision for the Future

Of course, planning work is never done, and always requires us to keep one eye toward the future. CMAP embarks on 2025 with a renewed focus on the northeastern Illinois’ future. The agency expects to build on last year’s successes while enhancing its vision for the next twenty to thirty years, through the development of the Regional Transportation Plan and a new Regional Vision Plan.

Learn more about last year’s successes in CMAP’s 2024 Annual Report — and stay tuned for what’s next by signing up for CMAP’s topic newsletters and following the agency on social media.

Greater Chicagoland Economic Partnership Announces Leadership Transition

, Date: February 25, 2025

GCEP Board of Directors Names New Chair & Vice Chair

The Greater Chicagoland Economic Partnership (GCEP) today announced a leadership transition, appointing two seasoned economic development leaders to drive its next phase of growth and collaboration. GCEP unites Cook, DuPage, Kane, Kendall, McHenry, Lake, and Will Counties with the City of Chicago.

  • Kevin Considine, President & CEO of Lake County Partners, has been named Chair of the Board of Directors, succeeding Greg Bedalov, President & CEO of Choose DuPage, who has served in the role since GCEP’s inception in January 2023.

  • Doug Pryor, President & CEO of the Will County Center for Economic Development, will step into the role of Vice Chair, taking over from Kevin Considine.

GCEP is led and managed by World Business Chicago (WBC), serving as the region’s coordinating force for economic development while complementing existing municipal and county initiatives. WBC plays a critical role in advancing the partnership’s shared mission—strengthening Chicagoland’s competitiveness, fostering business expansion, and attracting global investment.

With Considine and Pryor at the helm, GCEP will continue to champion the region’s competitive advantages, including its extensive freight and logistics infrastructure, highly skilled and diverse workforce, strong legacy and emerging industries, and a network of world-renowned academic and research and innovation institutions.

Considine serves as President and CEO of Lake County Partners, a leading economic development organization dedicated to positioning Lake County as a premier destination for business. Considine and team are focused on expanding the local talent pipeline, driving regional innovation, and addressing critical marketplace needs.

“I am honored to step into this role and build upon the incredible work that our regional partners have set in motion,” said Kevin Considine, incoming GCEP Chair. “The Greater Chicagoland Economic Partnership is a bold and forward-thinking collaboration—one that recognizes that our collective strengths are far greater than the sum of our individual efforts. Together, we are driving inclusive growth and ensure that Chicagoland remains a world-class hub for business, talent, and innovation.”

Pryor is President and CEO of the Will County Center for Economic Development (CED), the countywide organization dedicated to expanding economic opportunities and supporting businesses across Will County. The CED continues to serve as a one-stop resource for businesses seeking guidance on available sites, incentives, and local government processes in Will County.

“I am excited to join GCEP’s leadership team and collaborate with Kevin and our partners across the region,” said Doug Pryor, incoming GCEP Vice Chair. “By aligning our efforts and leveraging our collective strengths, we can drive transformative investment, support innovation, and ensure every corner of the Chicagoland region has the opportunity to thrive.”

World Business Chicago (WBC) leads GCEP and will continue to drive regional business development efforts in collaboration with local municipalities and county economic development programs.

“The transition in leadership underscores our shared commitment to regional economic prosperity,” said Phil Clement, President & CEO of World Business Chicago. “Kevin and Doug bring invaluable expertise and a deep understanding of the Chicagoland economy. Under their leadership, I’m confident that GCEP will further leverage the strength of the region to attract investment, create jobs, and drive economic opportunity for all.”

2024 Was a Standout Year for Business in Lake County, Illinois

, Date: February 20, 2025

Lake County’s talent and strong mix of industries fueled record growth in 2024, with the year building on one of the best runs of economic development in the county’s history. The year also developed a fresh pipeline of projects in key industries like advanced manufacturing, food packaging, life science, and sustainable energy like us to pursue in 2025.

As a direct result of our work, we helped fuel $251 million in new capital investment and 541 new jobs, and retain 667 existing jobs in Lake County in 2024. We are especially proud to announce that, over the last 5 years, we have also powered $1.33 BILLION in direct investment.

The success is evidence of LCP’s laser focus on outreach strategies that drive results. In recent years, we have fine-tuned our communications to generate leads and nurture new relationships; in turn, we leveraged local resources to help businesses grow and tap into the talent and quality of life for which Lake County is known. 

Between all the groundbreakings, ribbon cuttings, award ceremonies, and everything in between, there were plenty of occasions to celebrate in 2024. Here were just a few of the year’s biggest highlights:

MAJOR INVESTMENTS & NEW JOBS DEFINED 2024

T5 DATACENTERS

When T5 decided to invest $2.25 billion in a new data center, it chose Lake County for its well-regarded talent, connectivity and reliable power.  Its initial 160 acre site acquisition and 480MW+ of computing power at Grayslake’s Cornerstone Innovation Park represents Lake County’s largest datacenter project to date.  The new Grayslake campus is designed to meet the growing demand for large-scale data center capacity in support of cloud and artificial intelligence workloads. Expect additional announcements on this project later this year.

YMER TECHNOLOGIES

After working with LCP to seal the deal, Ymer Technologies relocated from Texas to Lake County and cut the ribbon on a 80,000 square foot HQ facility at 1100 Asbury Drive, Buffalo Grove.  Taking advantage of Chicagoland’s unmatched location and exceptional workforce, Ymer produces its cooling technology and thermal management systems for EVs in support of Illinois’ booming clean energy economy. 

SYSMEX AMERICA

Medical diagnostic equipment manufacturer Sysmex America, is investing $20.6 million dollars into the company’s Lake County facilities in Lincolnshire and Buffalo Grove to grow its high precision and automation systems and enhance lab efficiency and accuracy.  With the addition of 110 new employees and retention of 550 existing employees, this expansion underscores Sysmex’s commitment to the community and dedication to innovation and improving patient outcomes.

THOMAS FOODS

Australian-based Thomas Foods International enters the Midwest meat and seafood market with its acquisition of a 60,000 square foot manufacturing plant at 924 Sherwood Drive in the Village of Lake Bluff.  With operations beginning in 2025, this $28 million dollar investment adds 108 employees to Lake County’s workforce. 

ZF SERVICES

When assessing the best location for their North American HQ, ZF Services recognized that its existing home at 777 Hickory Hill Drive, Vernon Hills was always the “right place.”  Lake County’s exceptional workforce, highly accessible location, robust talent training institutions, and supportive local, county, and state partners secured the retention of ZF’s 250 local employees via a lease renewal on the 290,000 square feet facility.

AZ POLYMERS

In recognizing the value of Lake County’s workforce talent, optical grade plastic manufacturer AZ Polymers acquired its second site in Gurnee to expand its local operations by an additional 75,000 square feet.  This $10 million dollar facility will add 10 new employees and serve AZ’s warehouse and distribution needs while simultaneously allowing for installation of a third production line at their manufacturing plant.

BECOME ONE OF OUR SUCCESS STORIES

The good news doesn’t end here. Keep an eye on our social media, blog and news to learn more about growing your business in Lake County, Illinois. We have over 25 years of experience driving economic growth and the resources needed to take your company to the next level. Connect with us to tap into our free services here. 

Governor Pritzker Announces Investments in Fortune Brands Innovations’ Expanded Deerfield Headquarters

, Date: January 22, 2025

Bolstered by an EDGE agreement, Fortune Brands Innovations plans significant investment to create at least 400 new jobs on the North Shore, with capacity for over 1,000 jobs

Today, Governor JB Pritzker, Fortune Brands Innovations and the Illinois Department of Commerce and Economic Opportunity (DCEO) announced new investments in the company’s expanded headquarters in Deerfield. Fortune Brands Innovations’ significant investment in capital expenditures, bolstered by an Economic Development for a Growing Economy (EDGE) agreement, will enable the company to expand its headquarters to increase its operations and position the company and its brands for long-term growth.

“Fortune Brands Innovations’ decision to establish its global headquarters in Deerfield is a testament to Illinois’ talented workforce, dynamic business ecosystem, and culture of innovation,” said Governor JB Pritzker. “Supported by the EDGE program, this significant investment will generate hundreds of new jobs and further solidify Illinois as the premier state to live, work, and do business.”

An industry-leading innovation company dedicated to creating smart, safer and more beautiful homes and improving lives, Fortune Brands Innovations will consolidate and streamline its U.S. divisional headquarters operations into a single global headquarters in Deerfield. The company’s decision to grow in Illinois will deliver a world-class, collaborative office environment to fuel the company’s innovation, accelerate its digital solutions and grow its core products.

“We conducted a thorough, nationwide headquarters search before confirming Deerfield, Illinois as the most strategic location for our new, state-of-the-art campus, which will have capacity for over 1,000 associates by the end of 2027,” said Fortune Brands Chief Executive Officer Nicholas Fink. “Illinois is home to one of the strongest professional labor forces in the nation, which is exactly what we need as we unify our associates in one location and continue to innovate for accelerated growth. The deep talent pool and competitive incentives package from the State of Illinois were critical factors in our decision.”

“Fortune Brands Innovations has made a name for itself in Deerfield, and the State’s EDGE incentive package is supporting the company’s long-term growth in Illinois as it expands its headquarters,” said DCEO Director Kristin Richards. “Illinois’ competitive business attraction incentives, world-class workforce and strategic location in the Middle of Everything are just a few of the many reasons businesses choose to locate or expand in our great state.”

Bolstered by EDGE incentives, Fortune Brands Innovations selected Illinois to locate and expand its global headquarters after considering locations in a variety of other states.

“Illinois has a storied history of innovation, and Fortune Brands Innovations’ decision to grow its operations in Illinois is a testament to all our state has to offer,” said Representative Bob Morgan (D – 58). “Bolstered by State incentives, Fortune Brands Innovations will create new jobs for the North Shore community while contributing to Illinois’ growing business ecosystem.”

“The State of Illinois’ business attraction incentives are stronger than ever under Governor Pritzker’s leadership,” said Senator Julie Morrison (D – 29). “EDGE incentives are supporting Fortune Brands Innovations’ HQ expansion in Deerfield, and I’m proud to see this innovative company poised for continued growth as it creates and retains hundreds of good-paying jobs.”

As part of the State’s comprehensive incentive package, Fortune Brands Innovations received an EDGE tax credit, and has committed to making a significant investment, creating at least 400 new full-time jobs and retaining the 128 full-time jobs located in Deerfield at the time of the EDGE agreement application. A link to the full agreement can be found here. In calendar year 2024, companies in the EDGE program committed more than $650 million in investments in Illinois communities across the state.

“I am excited to see Fortune Brands expand its footprint in Deerfield and look forward to their continued growth in the Village,” said Deerfield Mayor Daniel C. Shapiro.

“It’s great to see this exciting growth for Fortune Brands and for Lake County. This expansion shows that premier locations with top-shelf office space can still drive demand,” said Lake County Partners president and CEO Kevin Considine.

Gracefully Empowering the Next Generation of Lake County Leaders

, Date: January 8, 2025

When Grace Network co-founders Sarah and Ryan Airola turned their attention to Lake County, Illinois, the goal was to apply the same model that they have successfully employed in Chicago since 2021. The nonprofit has been addressing hygiene insecurity by collecting, packaging and providing supplies for kids in need. In the process, the Grace Network (TGN) is boosting their dignity, self-worth and ability to apply themselves and grow.

“Since founding the Grace Network, we have made significant inroads in Chicago, supplying 6000+ students with over a quarter million hygiene products a year through 110 participating schools,” says Sarah. “It wouldn’t have been possible without the support of business leaders and volunteers who have helped us purchase and package the kits and scale up to increase our impact. Lake County has such a strong business base, and so it was a natural progression to expand our efforts into the community. We’ve already had a warm reception and found plenty of partnership opportunities.”

“We have already seen first-hand the impact the Grace Network has made in Lake County,” said Natalie Airola, program manager of community affairs at Northwestern Medicine Lake Forest Hospital. “Our nursing staff got together and participated in a recent packing event, helping to put together hygiene kits for local students in need. It was important for staff to see that healthcare goes beyond a doctor’s office or hospital—having those basic hygiene needs addressed will help to reduce potential health issues and remove the barrier it causes to education for students. We look forward to our continued work with them to help the overall health in our community.”

Now in Phase 2 of its growth, TGN is expanding its care measures even more. “Our expanded 3-year intervention plan includes a new set of activities that will build on what we already do,” Sarah explains. In addition to providing hygiene supplies, TGN is introducing educational activities and has already added laundry services with washers and dryers for student use in 22 schools.

To ensure sustainability for all the programs, “we are working to develop new partnerships and strengthen existing ones at local and national levels,” she adds. TGN is also creating a data collection and evaluation process, to measure whether interventions are meeting mission goals.

Among the new goals? Within the next three years, TGN hopes to add another 40 partner schools, double distribution of hygiene items (including dental care, feminine products, soap, socks and underwear) to half a million in Chicagoland, and implement educational programs designed to raise awareness and demonstrate hygiene practices. “We are aiming for long-term behavioral changes, and hoping to involve parents in these educational programs,” Sarah explains.

“It is difficult for students to reach their educational and social-emotional goals if their basic needs are not being met. The Grace Network helps us address this amongst our students.” Said Preston Kendall, President of Cristo Rey St. Martin.

In early 2024, TGN launched a “care kits” initiative to build and distribute up to 10,000 kits, filled with essential hygiene products, through their school network. Much of their support for this initiative comes from corporate partners looking to host in-office volunteer programming for staff. In November of 2024, TGN surpassed their goal by packing 11,500 kits through corporate partners such as William Blair, Antares Capital, Optiver US & Northwestern Medicine.

“As students mature and learn how to apply themselves, they face many challenges. At the Grace Network, we want to leverage local leadership to alleviate the burden of hygiene insecurity so that the kids can focus on growth opportunities and enjoy the high quality of life for which Chicagoland is known,” Sarah concludes.

Get involved in empowering Lake County youth and shaping the community’s next generation of leaders. Click here to get involved with the Grace Network, and click here to connect with us and learn more about how we can help your business tap into the community and grow.