Economic Development

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Several projects that have been in the works in Itasca ever since the recession ended are coming to fruition this year.

The Residences at Hamilton Lakes, a 297-unit apartment complex spread between three four-story buildings along the west side of Arlington Heights Road near the Elk Grove Bank building, is now accepting renters, according to Nancy Hill, Itasca’s community development director.

Nestled in a seven-acre park-like setting, this Hamilton Partners project offers luxury studio, one-, two- and three-bedroom apartments. There is also a resort-style clubhouse that features an outdoor pool, fitness center, cardio studio, spa area including a hot tub, sauna and steam room, theater, computer nook, conference room, pet spa and an indoor lounge opening to a three-season patio equipped with an outdoor kitchen and fireplace.

“By building apartments within Hamilton Lakes, the goal is to create a more vibrant mix of uses there so that Hamilton Lakes can soon attract some entertainment and restaurant venues to that complex,” Hill said.

“In fact, the village is working closely with Hamilton Partners in an effort to attract some new, exciting restaurants,” she added.

In addition, the new five-story headquarters of the American Academy of Pediatrics is under construction on an 11-acre site within Hamilton Lakes. Hill said that she expects the Academy and its approximately 500 employees to move out of its long-established Elk Grove headquarters and into its much larger facility in Itasca sometime this fall. The new structure has been built to handle a maximum capacity of 650 employees, Hill said.

“They wanted a new state-of-the-art building to reflect their philosophies about serving the medical needs of children,” she noted.

“We also have several other exciting prospects looking at Hamilton Lakes,” Hill said. “If those come through, it would keep things busy in Hamilton Lakes for the next two years. But, even if those happen, we would still have about 50 additional acres available for development in Hamilton Lakes into the future.”

Elsewhere in Itasca, R.S. Owens, a metal-plating and trophy-making firm, is planning to consolidate two Chicago factories and one Indianapolis factory into a 150,000-square-foot facility on Norwood Avenue in Itasca before the end of 2017. R.S. Owens is a very high-end firm that even makes the trophies that we all see awarded during the annually-televised Emmy and Tony Awards.

R.S. Owens is currently doing a major remodeling of the facility in Itasca’s Central Manufacturing District which previously housed a portion of the local Fellows Paper Shredders business.

“Itasca is an attractive place for businesses to be because of DuPage County’s low taxes; the beautiful office spaces available; and the fact it is in a great location from which to service their customers,” Hill said.

“Vacant office and industrial space in Itasca is filling up as businesses grow and consolidate here and also as many new businesses choose to leave Chicago and Cook County because it is so expensive to do business there,” she added.