Lake County Gazette

A Tesla dealership is set to be a major component of the new Tax Increment Financing (TIF) District in the Village of Buffalo Grove. The district, located along the Dundee Grove corridor, will be subject to a hearing before the Village of Buffalo Grove Planning & Zoning Commission on Oct. 18.

According to a news post from the Village of Buffalo Grove, the Tesla dealership is part of a highly anticipated project that aims to spur redevelopment in the area. Louis Schriber, Founder and CEO of Shorewood Development Group, expressed gratitude for the Village's support in making the project possible.

The 16-acre Shorewood development is planned at 915-945 Dundee Road, where the former Rohrman auto dealerships have been vacant for over a decade. In addition to the Tesla dealership, the development will also include two retail tenant spaces and luxury residential units.

Shorewood Development Group and Double Eagle Development are working together to purchase and redevelop the land located at the southeast corner of Dundee Road and Old Arlington Heights Road. The property is currently zoned B-4 Business, Service, Wholesale District and is developed with three vacant car dealership buildings.

The developers plan to demolish the existing buildings and transform the site into a new mixed-use development called Bison Crossing. The redevelopment plans include a 50,354 square foot Tesla Sales, Service, and Delivery (SSD) Center by Shorewood on one lot, while Double Eagle will develop a multi-family residential building on another lot. The third lot, known as Lot 2, will be developed into a multi-tenant commercial use as part of Phase 2 of the project.

The Village of Buffalo Grove Planning & Zoning Commission staff report highlighted the significance of this redevelopment project and its potential economic impact on the area. The hearing before the commission on Oct. 18 will provide an opportunity for further discussion and evaluation of the proposed development.

Overall, the addition of a Tesla dealership to the new TIF District in the Village of Buffalo Grove is expected to bring new economic opportunities and contribute to the revitalization of the Dundee Grove corridor.