Trustees To Vote On Meadowbrook Shopping Center TIF District

DOWNERS GROVE, IL — Village trustees will vote Tuesday on whether to designate Meadowbrook Shopping Center as a Tax Increment Financing (TIF) District. The plaza is set to be redeveloped by Stellco Properties.

The village council had initially been set to vote on the agenda item in mid-March. The motion was carried until the April 8 meeting.

The property was bought by Stellco Properties in 2022. They plan to add a 15,000 square foot retail or grocery store, along with three new outlots of 8,400 square feet or more for additional retail tenants, per village documents.

Stellco Properties has proposed adding a car wash and two drive-thru restaurants to the shopping center.

Meadowbrook Shopping Center has been in decline in recent years, with village document citing deteriorating buildings and parking lots, inadequate utilities and excessive vacancies.

According to data shared by SB Friedman Developing Advisors, the plaza's vacancy rate was around 40 percent in the spring of 2023. In contrast, they estimated similar nearby shopping had an average vacancy rate of six percent.

At Tuesday's meeting, trustees will vote on whether to designate the site a TIF district. They will also vote on the project and its redevelopment plan, in addition to whether to approve a redevelopment agreement with Stellco Properties.

The total costs for the proposed TIF area are estimated at $9.5 million, per SB Friedman's presentation.

If The TIF is approved, the plaza could be used for commercial or residential developments, per village documents.

Meadowbrook Shopping Center comprises 189,000 square feet and is currently home to the following businesses:

• Android Wireless & Repair
• B3 Business Solutions
• Beaches for Dogs
• Bombay Bazaar
• Care for Soul
• Celebrity Dance Studio
• Curry Leaves
• Dance One
• Dollar Tree
• Dunkin
• Ed's Dental Lab
• Friendly Stitches
• Heaven's Hair Beauty Salon
• Horizon Community Church
• Koller Insurance Company
• Legends Indoor Golf
• Lee NailsMathnasium
• Maxwell's Beef
• Meadowbrook Barber
• Molly Maid
• Planet Fitness
• Preferred Chiropractic Center
• P&S Automotive
• Q Pub and Grill
• Soap Opera Laundromat
• Stop 24 Foods
• Tobacco Big D Mart

There are 10 sites available for potential tenants, according to village documents from December 2024. These include the former sites of Cinema Treasures and Taste Indian Chinese Cuisine.