Village of Hanover Park’s Board Approves Acquisition of Hanover Square Shopping Center
At their Board meeting of Thursday, December 15, 2011, the Village Board passed a resolution authorizing the acquisition of the Hanover Square Shopping Center at 6602-6784 Barrington Road.
Located in the center of the Village, along the west side of Barrington Road between Maple and Walnut Avenues, the center includes approximately 113,700 square feet of commercial space on 8.7 acres of land. This shopping center has served Hanover Park for over 40 years. Contemplating the use of TIF funds, the Village is committed to rejuvenating this aging center and returning it to an attractive and profitable enterprise.
In accordance with the Village Board’s Strategic Plan Goals, the project will improve the overall image of the Village and create an attractive location for businesses. Additionally, it will further the objectives of the Village Center Tax Increment Financing Redevelopment Plan (TIF #3) by encouraging rehabilitation of existing buildings through high-quality physical, aesthetic, and public improvements.
A closing date of December 20, 2011 has been set. For further information, contact Patrick Grill, Community Development Director at (630) 823-5781.
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