The Village of Algonquin, IL

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New Tenants Announced for the Algonquin Commons

The Village of Algonquin is pleased to announce four businesses who are expanding and growing in the Algonquin community.  Ashley Furniture, Barnes & Noble, Tap House Grill, and X-Golf were recently issued permits by the Village to develop retail space at the Algonquin Commons, 1900 South Randall Road in Algonquin.

“We are excited that these four businesses chose to invest and grow their business in Algonquin,” stated Village President Debby Sosine. “Our business retention and attraction efforts add value to the tax base, which in turn, helps keep the Village’s property tax rate low for our residents.”

Red Mountain Group, Inc. recently acquired the 600,000 square feet premier power/lifestyle center in Algonquin, with plans to invest over $30 million to reinvest in the property.  As part of the Algonquin Commons revitalization vision, Red Mountain Group plans to develop a vibrant indoor/ outdoor covered entertainment area comprising more than an acre of open space. This gathering area will become the focal point for community social events, televised sporting events, outdoor movie nights, al fresco dining, shopping center promotions and holiday functions.

Since Red Mountain Group took over ownership of the Algonquin Commons, the center’s vacancy rate has dropped from 25 percent to 12 percent.  Algonquin’s overall retail vacancy rate is 7.7 percent, down one percent from 2019’s 10-year high.

“Our ability to get creative with the permit process, establish open lines of communication with the new ownership group, and work together as a team is paying dividends,” stated Community Development Director Jason Shallcross.  “We are open for business and welcome anyone that would expand our retail, dining, and entertainment options to call Algonquin home.”

For more information about the Village of Algonquin’s economic development program, business retention, expansion, and attraction efforts, and development opportunities, please visit www.aplusalgonquin.com.