Economic Development

The City of Prospect Heights represents diverse economic development opportunities.  Combining such assets as beautiful neighborhoods, natural areas and a country atmosphere, convenient access to the Tollway and other regional arterials, business corridors on Rand Road, Milwaukee Avenue and Elmhurst and Wolf Roads, and Chicagoland Executive Airport, the City is an outstanding community to live, work, play and shop.  Additionally, the City offers the following economic development services:

PH is Open for Business
  • One-stop shopping business development information
  • Coordination of special redevelopment programs
  • Management of tax increment financing (TIF) districts and other development projects
  • Assistance with Cook County Economic Development Property Tax Relief Programs

Business Opportunities

Route 12 Rand Road Corridor


Rand Road is the primary business corridor of Prospect Heights’ west side.  This area includes a business improvement district, Prospect Crossing Shopping Plaza, featuring Tony’s Fresh Market, the Home Bar Entertainment Establishment, Lola’s Restaurant, Jimmy John’s, and Dairy Queen.  Other Prospect Heights’ businesses along this corridor include a new 700 unit indoor self-storage facility, Village CycleSport, and Atlantis Banquets. The average daily traffic count on Rand Road in this area is 27,800 vehicles per day. 

Milwaukee Avenue Tourism District

The Milwaukee Avenue Tourism District features Hilton Chicago/Northbrook Hotel, Crown Plaza Hotel, and a soon to open newly remodeled Ramada.  Area restaurants include Allgauer’s on the Waterfront, the Willows and the Scoreboard at Crown Plaza, Rocky Vander’s, Players Pub, the Dog Walk and Monica’s Restaurant.  The Milwaukee Avenue corridor and area neighborhoods are also served by Palwaukee plaza.

The Corridor also includes Chicago Executive Airport, which is owned and managed by the City of Prospect Heights and Village of Wheeling.  Chicago Executive Airport is the third busiest airport in the State of Illinois.
  
The daily traffic count on Milwaukee Avenue, at Palatine Road, is 26,100 vehicles per day.  The daily traffic count on Palatine Road, at Milwaukee Avenue, is 41,200 vehicles per day.

Elmhurst Road and Camp McDonald Road

Considered the crossroads of the City, this area serves as the Town Center of the City, as it includes City Hall, Police Department, Prospect Heights Fire Protection District, Prospect Heights Library and Prospect Heights Park District. Located within 1 mile of Randhurst, a regional commercial and entertainment center, the Elmhurst Road/Camp McDonald Road axis, includes Walgreen’s and Deli-for-You.

The daily traffic count on Elmhurst Road, at Camp McDonald Road is 22,100 vehicles per day.
 

Wolf Road

Wolf Road offers neighborhood commercial strip centers and the City’s Metra Commuter Rail Station.  The area has been identified in the City’s comprehensive plan as suitable for mixed-use, transit-oriented development.

Opportunities exist

For economic development in the City of Prospect Heights. There are various locations around the city for different types of potential businesses and opportunities. Check with our department to ensure your proposed business is in the correct zoning district. Zoning Variance may be required for the use and/or parking. A current list of available locations can be obtained by contacting Dan Peterson, Director of Building and Development, at 847-398-6070 Ext 208. 
 
Application to Post Vacancies