logo
Construction begins on first residential lots at controversial Crown development in Sugar Grove

Construction begins on first residential lots at controversial Crown development in Sugar Grove

Chicago Tribune5 days ago
Construction has officially started at The Grove, a mixed-use development planned on 760 acres at Interstate 88 and Route 47 that was annexed into the village of Sugar Grove last year.
Work is beginning on just one portion of the development area, set to be the community's first residential neighborhood, according to a news release Thursday from Sugar Grove LLC, an entity of Naperville-based Crown Community Development. That area, located along Merrill Road, will offer single-family homes on 214 lots, which Crown expects to deliver to home builders in 2026.
Oswego-based J&S Construction was awarded the site contract for the project, according to Thursday's news release.
The Grove has been a long time coming, said Crown's Managing Director Jennifer Cowan on Friday. She said that Crown has owned the property for many years, and that 'a lot of work has gone into positioning the property for development.'
Last September, the Sugar Grove Village Board approved the development project and agreed to annex the property into the village and give its developer financial incentives via a tax increment financing district, according to past reporting.
The project will sit on what is currently mostly farmland surrounding the Interstate 88 and Route 47 interchange. It's set to include neighborhoods, mixed-use commercial and residential areas, a walkable town center and a business park area.
The project faced public opposition, however, both before and after the village gave it the green light. In April, a non-binding referendum question was passed by voters asking the village to reverse its decision on the project. In the same election, former village president Jennifer Konen and an incumbent village trustee — both of whom voted in favor of the Crown project — were voted out.
Still underway is a lawsuit against Sugar Grove by Kaneland School District 302, which is challenging the tax increment financing district planned for the development project.
A TIF district is a form of economic development incentive, in which the value of a property is essentially frozen, with the extra or 'increment' taxes created by developing the property then going into a special fund used to pay for costs related to improving the area.
Kaneland was previously in negotiations with Sugar Grove to create an intergovernmental agreement about the TIF district, according to past reporting. But, not satisfied with those terms, the district floated the possibility of taking legal action against the village in February.
The Kaneland lawsuit was filed on June 13 with the Kane County Circuit Court, according to case information on the county circuit clerk's website.
The district is arguing that the TIF district will mean the school district will lose out on incremental property taxes levied against the area for a period of 23 years, and that there is controversy over whether the area should qualify for tax increment financing in the first place, according to past reporting. Per the lawsuit, the school district is asking the village to dissolve the TIF district.
Sugar Grove Village President Sue Stillwell declined to comment on Friday about the lawsuit.
Kaneland Superintendent Kurt Rohlwing said on Friday that the district right now is waiting on an initial hearing, which will likely not be until September.
'We want to make sure that we have a fair deal for the financial arrangements that impact all of our communities,' Rohlwing told The Beacon-News.
But, despite the opposition and legal action surrounding the TIF district for the development, the Crown project has continued to move forward in recent months.
In late April, the village OK'd a final plat of subdivision, essentially a map dividing up a piece of land into smaller lots, for one portion of the development — the part that just began construction, Cowan said.
The latest approval Crown secured was a mass grading permit, which is required by its annexation agreement with Sugar Grove, according to Stillwell.
Mass grading is essentially preparing the land at a site for construction. The developer is going to be grading nearly 80 acres of the project area, Cowan said, which could take six to eight weeks. From there, the developer will install sanitary sewers, water mains and storm sewers underground, and pave and finish streets by the end of this year or the spring of 2026.
Getting the mass grading permit allows Crown to start construction while its engineering plans are still being reviewed, Cowan explained. She noted that significant rain during the fall could impede the process, so the goal is to have the grading done before then.
Crown will have to go through the engineering review process and plat approval process for each portion of the project it brings forward to the village, Cowan said.
This first development area is expected to offer single-family homes with two- or three-car garages, according to Thursday's news release.
Crown is a land developer, meaning it won't be building the homes that will sit on this development area. But Cowan said she anticipates there could be homes built in this area before the end of 2026.
The Crown project as a whole is set to have as many as 1,500 residences, according to The Grove's website, and at least 200 acres of open space, including parks and trails.
As for the other components, Cowan said that the industrial portion of the land is already under contract for a data center, which could be built in the next three to four years.
For Crown's part, she estimated that its build-out of all the parcels in the project's development area could be finished in about 10 years, not necessarily including the construction of the homes or other buildings that will then be built on top of them.
But, for now, Cowan expressed optimism about the project as a whole and the progress being made on this first residential piece of the project.
'I'm really excited to be able to deliver some additional housing supply to this market,' Cowan said. 'It is a supply-constrained market. … Housing supply is definitely a need here in Chicago, in the Chicago metro area.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Teen destination Claire's files for second bankruptcy in 7 years
Teen destination Claire's files for second bankruptcy in 7 years

Los Angeles Times

timea minute ago

  • Los Angeles Times

Teen destination Claire's files for second bankruptcy in 7 years

Claire's, the shopping mall chain that sells flashy accessories to teens and tweens, filed for Chapter 11 bankruptcy protection on Wednesday amid shrinking margins and pressure from online competitors. It's the second bankruptcy filing in seven years for the chain, which was once the go-to destination for ear piercing and cheap jewelry. The Hoffman Estates, Ill.-based company has 15 locations in the Los Angeles area and more than 100 in California. In a news release Wednesday, the company said its retail locations in North America will remain open during the bankruptcy process. The company operates 2,750 stores in 17 countries as well as 190 locations in North America under its Icing label, according to its website. 'This decision is difficult, but a necessary one,' Claire's Chief Executive Chris Cramer said in a statement. 'Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders,' he said. The company will continue to explore strategic alternatives and is in discussions with potential financial partners, the release said. The bankruptcy filing comes three months after the company deferred interest payments due late next year on a $480-million loan. Claire's estimated the total value of both its assets and liabilities to be between $1 billion and $10 billion. When the private company first filed for bankruptcy protection in 2018, it offloaded $1.9 billion in debt and emerged with $575 million in new capital. The company's decline aligns with the decreasing popularity of malls in recent years. Claire's storefronts used to be a staple in shopping malls across the country, where teen girls could shop for colorful items such as hair clips, headbands and handbags. The stores were also a major destination for ear piercing services. 'Claire's is synonymous with the shopping mall,' said Dominick Miserandino, chief executive of Retail Tech Media Nexus. 'For the newer online generation, malls aren't on their radar in the same way.' Other mall-based chains, including Los Angeles-based Forever 21 and Foot Locker, filed for bankruptcy protection earlier this year. The crafts and fabric retailer Joann shut down its operations in February, and popular department store Macy's is in the process of closing 150 underperforming locations. Claire's has been squeezed by competition from low-cost online retailers such as Shein and Temu, and has attempted to keep up with major retailers such as Amazon by expanding beyond malls through a partnership with Walmart. Today's young shoppers do a lot of browsing online and look to social media influencers for the latest trends, rather than brick-and-mortar shops, experts said. 'The competition Claire's is seeing, mostly online, is better able to keep up with generation Alpha,' said Ray Wimer, a professor of retail practice at Syracuse University. Generation Alpha includes those born between 2010 and 2024. The company has also been hit by President Trump's steep tariffs, which affect much of the merchandise that Claire's sources from outside the United States. Cheap goods from China, Indonesia and Cambodia have become more expensive to import under the new taxes. 'Claire's has to decide if they're going to pass the cost of the tariffs onto consumers,' Wimer said. 'Their customers probably aren't willing to spend more.' Claire's was founded in 1961 as a chain of wig stores in the southern U.S. before merging with Chicago-based Claire's Boutiques. The company eventually rebranded as Claire's and became a symbol for kitschy fashion and girlhood by the early 2000s.

NCP Coatings Acquires Glyptal, Expanding Reach in Electrical Insulating Systems and Automotive Engine Coatings
NCP Coatings Acquires Glyptal, Expanding Reach in Electrical Insulating Systems and Automotive Engine Coatings

Los Angeles Times

timea minute ago

  • Los Angeles Times

NCP Coatings Acquires Glyptal, Expanding Reach in Electrical Insulating Systems and Automotive Engine Coatings

Century Park Capital Partners, a Los Angeles-based private equity firm, has announced that its portfolio company, NCP Coatings LLC, has acquired Glyptal Inc., a long-standing manufacturer of high-performance insulating enamel technologies serving the electrical and automotive sectors. This transaction marks NCP Coatings' first strategic acquisition since Century Park partnered with the company and represents a key step in a shared vision to build a leading platform in the industrial coatings space. The acquisition of Glyptal enhances NCP's product capabilities, expands its reach into complementary end markets and deepens its presence in the high-performance, specialty coatings segment. Doug Mattscheck, CEO of NCP Coatings, commented, 'Acquiring Glyptal is a meaningful and strategic step forward for NCP. Glyptal's legacy in the electrical coatings space aligns well with our vision to expand into specialty industrial segments where technical performance matters most. This acquisition complements our portfolio, extends our reach into new applications and signals our intent to continue scaling the business through technology-led growth. We're excited to welcome Glyptal into the NCP family.' Glyptal will continue to operate under its well-established brand, with operations and support functions being integrated into NCP Coatings' headquarters. The transition will be supported by Glyptal's existing ownership, which will remain involved during the integration period to ensure continuity. 'We are proud to support NCP Coatings in this highly strategic acquisition,' said Tony Trevino, partner at Century Park Capital Partners. 'Glyptal's specialized product offerings and long-standing customer relationships align perfectly with NCP's core strengths. This acquisition reinforces our commitment to investing in differentiated, technology-driven businesses with strong growth potential.' The former owners of Glyptal commented, 'After decades of serving our customers with products we deeply believe in, we're proud to transition Glyptal to NCP Coatings, a company with shared values of technical excellence and customer focus. We are confident they will continue to build on Glyptal's legacy and bring new opportunities to the brand and its customers.' Information sourced from Businesswire. Learn more by contacting mminnaugh@

Hoffman Estates-based Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018
Hoffman Estates-based Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018

Chicago Tribune

time31 minutes ago

  • Chicago Tribune

Hoffman Estates-based Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018

NEW YORK — Mall-based teen accessories retailer Claire's, known for helping to usher in millions of teens into an important rite of passage — ear piercing — but now struggling with a big debt load and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. Claire's Holdings LLC and certain of its U.S. and Gibraltar-based subsidiaries — collectively Claire's U.S., the operator of Claire's and Icing stores across the United States, made the filing in the U.S. Bankruptcy Court in Delaware on Wednesday. That marked the second time since 2018 and for a similar reason: high debt load and the shift among teens heading online away from physical stores. Claire's Chapter 11 filing follows the bankruptcies of other teen retailers including Forever 21, which filed in March for bankruptcy protection for a second time and eventually closed down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies. Claire's, based in Hoffman Estates, Illinois and founded in 1974, said that its stores in North America will remain open and will continue to serve customers, while it explores all strategic alternatives. Claire's operates more than 2,750 Claire's stores in 17 countries throughout North America and Europe and 190 Icing stores in North America. In a court filing, Claire's said its assets and liabilities range between $1 billion and $10 billion. Forever No More. Operator of mall staple Forever 21 files for bankruptcy protection'This decision is difficult, but a necessary one,' Chris Cramer, CEO of Claire's, said in a press release issued Wednesday. 'Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders.' Like many retailers, Claire's was also struggling with higher costs tied to President Donald Trump's tariff plans, analysts said. Cramer said that the company remains in 'active discussions' with potential strategic and financial partners. He noted that the company remains committed to serving its customers and partnering with its suppliers and landlords in other regions. Claire's also intends to continue paying employees' wages and benefits, and it will seek approval to use cash collateral to support its operations. Neil Saunders, managing director of GlobalData, a research firm, noted in a note published Wednesday Claire's bankruptcy filing comes as 'no real surprise.' 'The chain has been swamped by a cocktail of problems, both internal and external, that made it impossible to stay afloat,' he wrote. Saunders noted that internally, Claire's struggled with high debt levels that made its operations unstable and said the cash crunch left it with little choice but to reorganize through bankruptcy. He also noted that tariffs have pushed costs higher, and he believed that Claire's is not in a position to manage this latest challenge effectively. Competition has also become sharper and more intense over recent years, with retailers like jewelry chain Lovisa offering younger shoppers a more sophisticated assortment at low prices. He also cited the growing competition with online players like Amazon. 'Reinventing will be a tall order in the present environment,' he added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store