Volo Looking to Spur Downtown Redevelopment

From the June 9, 2010 Daily Herald:
By Lee Filas - Daily Herald Staff

Volo officials hope new sewer and water lines on Route 12 could lead to future redevelopment of the village's downtown area.

Mayor Burnell Russell said Volo will borrow $2 million bond to be used to extend water and sewer lines to the corner of Old Volo Village Road and Route 12. The area is now served by well and septic systems.

Construction to bring water and sewer lines to the area would begin after the bond is officially in hand Thursday morning, Russell said.

"For me, it's real exciting," Russell said. "We are slowly putting bits and pieces of our master plan together and watching as these areas develop into commercial and residential properties."

A closed gas station, tavern, a closed bait shop and the old Volo village hall are currently in the area the sewers will serve.

With the addition of sewers, a proposed Thornton's Gas Station could begin construction at that intersection, Russell said. Village board members hope other smaller businesses will open shop there.

Russell said it's unclear how much potential sales tax revenue could be added to the annual operating budget as a result of the sewer installation.

"Redevelopment has been slowed recently due to the economy, but we are starting to see it pick up a little," he said. "With these sewer and water lines being put in place, it could lead to big things on Route 12 down the road."

Volo has been working for the past decade to attract more businesses to town through the use of sewers along Route 12.

Unfortunately, Russell said most developments that were planned for the 7 miles of Route 12 in Volo have either fallen through or been put on hold because of the economy.

Previously, sewers were extended on the east side of Route 12 to most residential developments. This is the first expansion of sewers to the west side of Route 12.

Update on Big Hollow land sale

I pulled this paragraph from Big Hollow's website:

"The Big Hollow School District 38 School Board has approved a contract for the sale of the school district's 12.9 acres located at the intersection of Routes 12 and 134. The contracted purchase price is $5 million. The purchaser is a development corporation located in Florida . The projected closing date is July 2010."

It'll be interesting to see what happens there.

Jimmy John's Update

The signage is up and the place looked like it might have been open, but I didn't get a chance to drive that close to the building. I am going to swing by on my way home tonight and if they happen to be open, I'll order a sandwich and post an update!

Thornton's Coming Soon Sign Up

Driving home from work last night, I saw that the "Coming Soon" sign for the new Thornton's has been erected.

Q&A with Village Administrator Ken Burkhardt

From the 7/17/09 Daily Herald:

Q. How do you go about supporting business development in your community?

A. Volo is a home rule community and that allows a certain amount of flexibility in the amount of help we can give a developer, such as sales tax rebates. We are also able to extend water and sewer systems to vacant or developable land such as the area of Route 12 and Volo Village Road.

Q. What is currently in the works (ground has been broken or will be in the next couple months)?

A. At the present time, I only see one project that could break ground in the next several months; that is a Thornton's gas station at the Northeast corner of Route 12 and Volo Village Road.

Q. What is in the planning stages?

A. The more than 700,000-square-foot retail development, planned by Mid-America/Orput Group, is still ready to start as soon as there is a better economic picture.

Q. What is your town's biggest economic development wish?

A. Our residential communities are still growing and our commercial area is still alive. Our wish is for a better economy.

Q. What is your community's single greatest asset or selling point to potential developers?

A. Volo's greatest selling point to developers is its location within a major road network that Volo continues to improve by our efforts to update the major intersections of Route 12 and Molidor Road, Route 120 and Fish Lake Road, Route 60 and Fish Lake Road and Route 120 and Route 60.

Q. Have the challenges presented by the current downturn forced you and your community to approach economic development differently? What are the changes and how well are they working?

A. The current economic downturn has required us to reconsider some of the projects on our to-do list and look for other sources of funding those most necessary. We have had only limited success with applications through the American Recovery and Reinvestment Act of 2009.

State expands holdings around Volo Bog

From the March 5, 2009 Daily Herald:

SPRINGFIELD -- Illinois officials have purchased 32 acres in northwest Lake County that they say contain one the state's natural wonders: a bog.

The Illinois Department of Natural Resources says it bought the land for nearly $1.1 million. The Illinois Conservation Foundation provided a private donation of $125,000 toward the cost.

Officials say the new state property offers access to the existing Volo Bog State Natural Area, while also buffering it from encroaching development. The bog transformed over thousands of years from a deep lake to a floating mat of moss and cattails, providing a home for rare plant and animal species.

The Volo Bog is a National Natural Landmark. IDNR Director Marc Miller says the purchase helps protect of the state's most unique landscapes.

Thornton's in Volo?

I don't normally post twice in one day but I was just looking at the agenda from the village board meeting this past Tuesday and it refers to the plan commission public hearing on 3/19. The bullet says "Thornton's PUD" which leads me to believe we could see yet another gas station along Route 12. Goody.

Update 3/17/09 - the agenda for the 3/19 meeting has been posted and I can confirm that this meeting is regarding the addition of a Thornton's gas station and convenience store at the NE corner of 120 and Volo Village Road."

I did like the comment the other day about taking the BP/McD's and making it a Rock 'N Roll McDonald's. I still think my Sonic idea is worthwhile too!

Volo Village Corner Market scrapped

Hey all - sorry for the lack of updates lately. Frankly, there really hasn't been much to report on during this rough economic crisis. Development is at a standstill and unforunately, most of the news is bad.

I was driving down Route 12 the other day and noticed that the sign for Volo Village Corner Market (opening Spring 2007, er, 2008) had been replaced by a public hearing sign. I haven't been able to read the specifics yet, but I visited the VVCM website this morning and the entire project appears to have been scrapped and the land is for sale again.

I think that corner would be optimal for a food chain - particularly Sonic Drive-In. The famous classic carhop restaurants returned to the Chicago area in 2008, opening 3 locations in Bartlett, Algonquin, and Aurora. There is a distinct lack of restaurants along Route 12 between Wauconda and Fox Lake, and the theme of the restaurant ties in perfectly with the Volo Auto Museum across the street.

Retail Updates

I got an e-mail today about leasing opportunities at Tucker Development, the company handling the development of Shops at Lakemoor. The e-mail made no mention about availability at Shops at Lakemoor so I sent an e-mail to Tucker's VP of leasing asking if the project was on hold. I got a response back that they were waiting on securing an anchor. He wasn't able to provide me any other information but I could speculate that either Wal Mart backed out, or they were never officially signed on in the first place.

As for Volo Village Marketplace, their website hasn't been updated in almost 9 months and I never hear back from any of the leasing people when I try to contact them. I have a feeling this project is dead for the time being.

In unrelated news, it appears that the buildings occupying Starbucks/Foxxy Nail Spa and Autozone are for sale. I noticed the MidAmerica signs had been replaced with Next Realty signs about a week or two ago.

http://www.nextrealty.com/assets/pdf/lease/Volo_VoloCommons.pdf

Poll results

Well, the results are in, and Volozens like a little spice in their life, as Chipotle was the clear winner in the poll of which fast/quick service restaurant chains you would like to have come to Volo. In second was a 3 way tie between Boston Market, Jimmy John's, and "Something Else." For those of you that voted for "Something Else," let me know what it is that I might have missed. Remember that I deliberately left McDonald's off the list because we already have one and a new one is allegedly being built at Volo Village Marketplace.

Speaking of Volo Village Marketplace, that's the topic of the next poll question. Just like the office pool for when you think that Joan in Marketing is going to have her baby, I want to know when you think VVM is going to break ground!

Consumers Credit Union Groundbreaking Ceremony

According to the latest Village Board agenda, the groundbreaking ceremony for the Volo branch of Consumers Credit Union will take place this Saturday, June 28, from 8:30-10:30 a.m. The credit union will be located at the corner of 120 and Ellis.

Update on Volo Village Marketplace

This was previously posted in an earlier comment, so I thought I'd elaborate a bit more in a posting. Below is a listing of stores currently under consideration. This list is as of 4/2/08, but I've contacted one of the leasing agents to get a more accurate list. If I do, I'll update as needed. These stores all are set for Phase I, which is supposed to be completed in Fall 2009:

LEASE OUT:
Target, Petsmart, Dick's Sporting Goods, Best Buy, Fifth Third Bank, Famous Footwear, Hair Cuttery

PROPOSAL OUT:
Bath & Body Works, Justice!, Maurice's, Kay Jewelers, Lane Bryant, Sally Beauty Supply, Payless, Massage Envy, Subway, Great Clips, Verizon, Linens N Things, Buffalo Wild Wings, McDonald's

There's also a proposal out for one of the parcels in Phase 2, but it is yet to be identified.

Starbucks Opens!

Welcome to Starbucks as they open their doors today, Saturday, June 7! Here's an article on the opening from the Lake County Journal:

First Starbucks in Volo opens today
By KURT BEGALKA - kbegalka@nwnewsgroup.com
VOLO – Starbucks Coffee Co. opens its first Starbucks store in Volo today. And store manager Karen Castillo is riding a double expresso-type charge about it.

“I’ve been with the company 10 weeks, and they never give a new person a new store,” Castillo joked. “I guess I’m so awesome, they asked me if I would be interested. Now I don’t have to clean up anyone else’s mess. I’m walking in to a brand new start.”

The new store features a drive-through, outdoor patio, upholstered furniture, café tables and chairs, and a signature coffee bar area that is being added to new Starbucks stores.

Customers also now can head into any of 7,000 corporate-owned Starbucks and fire up a Wi-Fi-equipped laptop or smart phone for up to two hours a day, compliments of Starbucks and AT&T. Users need a refillable Starbucks Card with at least $5 on it, and must have used the card once within the past 30 days to access the Wi-Fi.

“It’s a really, really nice atmosphere,” said Castillo, 32, of Carpentersville.

The new store will have about 10 employees.

Regular store hours are 4:30 a.m. to 9 p.m. Monday through Thursday, 4:30 a.m. to 10 p.m. Friday and Saturday, and 5 a.m. to 9 p.m. Sunday.

“Anytime a new store opens they usually tweak little things, but we’re really trying to get back to the basics and get rid of the extra nonsense we used to carry,” Castillo said. “It’s a great product. I’m trying new drinks that I never would have. ... People keep coming in and trying to pull open the door or go through the drive-through. I think it will be really good, especially with the Home Depot nearby. All of those contractors need their cup of coffee in the morning.”

For information, call 847-973-2592 or visit www.starbucks.com.

The Shops at Lakemoor : No Moor?

I was driving to work this morning and as I passed 120, I noticed that the sign for Shops at Lakemoor had been removed. I didn't recall any wind storms that would have blown it down, so I wondered if it was true that there wasn't going to be enough room for two big shopping centers in the area considering the current state of the housing market and economy. I contacted the leasing agent with Tucker Development and he stated that the project was still a go and that they were working on securing the anchor (Wal Mart?). He said he'd have more information before the first of the year.

First of the year? Things sure are developing slowly. Assuming Volo Village Marketplace breaks ground this summer as expected, they're going to have a good head start.

Consumers Credit Union opening branch in Volo

From the April 29, 2008 Lake County News-Sun

Consumers Credit Union is opening a new branch in Volo, which will be its seventh, at the end of the year, said Sean Rathjen, president of chief executive officer of the 50,300-member credit union.

"It's a growing community there with a lot of houses being built. We have a lot of members living in the western part of Lake County. They wanted our services to be near them," said he.

The 5,000-square-foot full-service facility will be at the intersection of routes 60 and 120.

Rathjen, who was named the head of the credit union four years ago, called 2007 the best year ever with both membership and revenue up for the not-for-profit financial organization.

What made it successful in a year when many financial organizations suffered because of the subprime loan crisis is that Consumers Credit had wisely stayed away from the lending practices associated with subprime loan.

"We're not impacted by it because we refused to get involved in those types of lending," said Rathjen.

Instead, Consumers Credit Union late last year started to offer 7-year balloon mortgage at 5.625 percent with what he called "phenomenal success."

The beauty of the special product is that the mortgage provides 90 percent financing of the value of the property instead of the traditional 80 percent, Rathjen said.

"The rate we offer is below market," he stressed.

Most borrowers pay off their loans in seven years, he said. If not paid off, they would refinance their loans before the end of duration anyway.

Earlier this year, Consumers Credit also offered a line of home equity at 4.99 percent up to $1 million with equal success.

Another "phenomenal success" is the "Rewards Checking" bearing a 5.09 percent interest on a balance of up to $25,000.

"It's the best you can find," said Rathjen.

There are certain conditions attached, though, including that an account holder must sign for receiving electronic instead of paper statements, make 12 debit card transactions and pay one bill electronically.

Meeting the needs of credit card holders tired of paying high interest rates and late fees, Rathjen, ever innovative, launched a Visa balance transfer program. Under the program, Consumers Credit is offering 7.99 percent fixed rate for people transferring their accounts to it.

"Thousands of people have transferred their accounts to us," he said.

Consumers Credit does charge a late fee of $25, but it gives 10-day grace period while many credit card companies start to assess late fees if one is a day late, he said.

Naturally, those who transfer their accounts as others who want to benefit from the offerings of Consumers Credit must become a member. It costs just $10 to join with $5 to open an account and $5 for membership.

For its outstanding services, Consumers Credit has received the Dora Maxell Award for advocating the philosophy of credit union, and also the Louise Herring Award for providing financial education in the Latino community.

"I just love what I do. As non-profit organization, we're not for profit as a non-profit organization, but try to serve people by giving them the best possible financial information and advice," said Rathjen.

Starbucks about to break "ground"

Sorry for the bad pun, but the "Coming soon" sign is up and the temporary fence has been erected around outlot #3, future home of Starbucks. Within a few months, Volozens will be be able to get a caffeine buzz in their own backyard!

Big Retail Targets Tiny Towns

From the 9/17/07 issue of Crain's Chicago Business. Interesting to see that perhaps we won't see both of these properties go up. My Dad, who has worked in retail property management for many years mentioned that Tucker was the developer of the now demolished One Schaumburg Place.

By H. Lee Murphy

Far suburb Lakemoor, neighbor Volo to grow

The village of Volo has a population of just 2,300, while its sister community to the west, Lakemoor, has only 4,800 residents. But those numbers haven't stopped big retail developers from mapping plans for shopping centers in this far northwest suburban crossroads.

At the southwest corner of State Routes 12 and 120 in Lakemoor, Tucker Development Corp. of Highland Park has acquired 74 acres and is proposing a 700,000-square-foot center. Across the street, in Volo, a partnership headed by Mid-America Real Estate Corp. of Oakbrook Terrace has acquired 90 acres and plans a 750,000-square-foot project.

Tucker executives did not return calls; a Mid-America executive involved in the Volo development could not be reached.

Both communities have seen a surge of interest from residential developers.

In Lakemoor, Westminster Swanson Land Partners LLC has acquired three separate tracts for subdivisions encompassing more than 3,000 homes. In Volo, village President Burnell Russell says a half-dozen homebuilders already have gained approval to build more than 2,000 houses. He predicts the village will grow to 10,000 residents by 2013.

As for the dueling shopping centers, Mr. Russell says, "I'm not sure that there is enough demand for retail here to allow both of them to go ahead."

Indeed, the housing slowdown is likely to hold up some subdivision starts, and, if that happens, the retail projects could be delayed, too, says John Melaniphy, president of retail consultancy Melaniphy & Associates Inc. in Chicago.

"It would be very difficult for both of these shopping centers to move forward right now," he says. "The developers are counting on a tremendous amount of new housing. . . . It's likely to come down to whoever can sign up willing retail tenants first."

Response to comment made about commercial development

I wanted to post a response to the comment posted about my post regarding the slow-to-develop retail area. I think I know who posted the comment and if I'm right, I really respect your opinion and I thank you for your comments.

I think the reason I seemed a bit angry was because I read an article about 18 months ago before I moved into the area and Mayor Russell was commenting about how he expected something major by the summer of 2007. Perhaps I misread the article thinking it would be opening in 2007 rather than breaking ground in 2007. Needless to say, I'm sure you're right that everything will come together eventually and I'm excited about the future of the Village. I guess Schaumburg wasn't built in a day either!

Coming Soon...

Last week's Volo Plan Commission meeting agenda made reference to a proposed "food service building" with a "single drive-thru lane" at the corner of Route 12 and Hartigan Rd, on the northernmost outlot of Home Depot, next to AutoZone. I love how cryptic these agendas are where they give you no clue about what it might be. With Wendy's across the street and a McDonald's right down the road, I'm pretty certain it's neither of those. Possibly Burger King, Arbys!, Subway, Quizno's? It's too small a lot for a Portillo's, but what a win that would be!

In other commerce news, the Plan Commission approved the Consumers Credit Union at last month's meeting. Consumer Co-op will be constructed at 120 and Ellis Roads.

HSBC in V-o-l-o

From the 6/12/07 Daily Herald:

Schools to get $450,000 dream

HSBC facility will add revenue but not students
By Lee Filas
lfilas@dailyherald.com
Posted Tuesday, June 12, 2007

Some of the information used by banks around the world will eventually settle in the little town of Volo.
HSBC, one of the world’s largest banking groups, is building a computer information hub at the corner of Route 120 and Fish Lake Road in Volo.
The first phase of construction includes a 125,000-square-foot building, water tower and on-site generator at the 43-acre site.
The second and third phases of construction will take place over the next two years and will increase the building size to 300,000 square feet.
Volo Mayor Burnell Russell said the property will add $450,000 per year in tax money to Wauconda Unit School District 118, without adding a single student.
HSBC, one of the world’s largest banking groups, is building an information center at the corner of Route 120 and Fish Lake Road in Volo.
“We’re really proud of that site,” Russell said. “They are working hard to make it a nice building, and we’re happy to have them here.”
Wen Huang, public affairs manager from HSBC, said the building will be filled with computer terminals. Records and other paperwork from around the globe will be stored on site.
About 30 jobs will be created in the first phase of construction, expected to wrap up next spring. About 70 jobs will be added when the project is completed.
“Unfortunately, there won’t be many people working there,” Russell said. “We went on a tour of another building they own. It’s all computers.”
He said the building will have its own cooling system, which is why a small water tower was built on site.
In addition, he said the building needs to ensure power is running at all times, so a large, on-site electrical generator will be built.
“It’s really a neat concept they have going on over there,” he said. “Information is coming in from everywhere and being stored there. It’s pretty neat.”
Russell said, though, the best part of the building is the tax revenue it generates.
“That money will help the schools out tremendously,” he said. “Almost half a million without producing a single student. That’s great.”
John Armstrong, president of the Wauconda School District 118 board, said the bump in property taxes will come in at just the right time.
“We are looking at operating with a deficit in the near future, so having that money coming in the next couple of years is going to make a huge difference,” he said.
He added, “When we originally talked to the village about them coming in, we didn’t know what to expect. But we are sure happy they have broken ground and are moving forward.”
He said the money will be added to the school budget during the first year the tax revenue comes in.