Glenview will soon add another headquarters to an already impressive list of not-for-profit organizations and businesses including Anixter, Scott Foresman and LifeSource that call the Village home.
The American College of Chest Physicians (ACCP) expects to break ground this fall on 5.25 acres of land recently purchased in the Prairie Glen Corporate Campus, according to a recent Village press release.
The medical society plans to house its innovation and learning center in a newly built, two-story, 45,000-sqaure-foot facility, 2501 Patriot Blvd. The project is slated for October 2013 completion when the organization's 90 employees will move from the current headquarters at 3300 Dundee Road in Northbrook.
The approved a development agreement during its May 22 meeting, and expects the regulatory review process to begin shortly with the ACCP and land developer Catellus.
“The ACCP has experienced significant growth in staff, members and educational offerings in recent years,” ACCP's Executive Vice President and CEO Paul A. Markowski said at the board meeting. “Our strong partnership with the Village of Glenview and Catellus will help us to realize our goal of expanding our innovative educational initiatives to our members and the global health-care community.”
Construction of the new $16.5 million headquarters will require infrastructure work, according to officials, and because of this, the Village of Glenview has agreed to provide a $120,000 incentive and a $715,000 loan from , the press release explained.
The TIF was originally formed in 1998 to help Glenview redevelop the former Glenview Naval Air Station as The Glen, .
According to the release, the incentive will be recouped from property tax payments the ACCP has agreed to pay over the next 15 years. The loan will be repaid in full at 2.5-percent interest upon sale of the remaining two parcels in the campus owned by Catellus.
“The ACCP will be a wonderful addition to The Glen, and will not only enhance the quality of businesses in the Prairie Glen Corporate Campus, but will add several millions of dollars each year to the local economy,” shared Village President Kerry Cummings at a recent board meeting.
The above information courtesy of the Village of Glenview.