Summer 26 OP Newsletter

GROWING ORLAND PARK

Downtown Orland Park Update: University of Chicago Development

reliable revenues that fund our public spaces,” said Mayor Jim Dodge.

The Village of Orland Park announced a milestone advancement for Downtown Orland Park: a new ground lease with the University of Chicago Medical Center (UCMC) for an additional multi-story medical facility paired with an Amended and Restated Redevelopment Agreement with E&R Development LLC (Edwards Realty). Together, these agreements deliver a long-term medical anchor, a new medical facility, enhanced restaurant and retail activation, guaranteed public parking access and recurring revenues dedicated to Heroes Park. Building on its decade-long commitment to the Orland Park community, UCMC will construct a new state-of the-art musculoskeletal center of approximately 80,000 to 120,000 square feet on Parcel E, a 1.5-acre site at the northwest corner of 143rd St. and LaGrange Road. The multi-story facility will deliver a full range of medical services to the south suburban region. The facility will also incorporate between 3,000 and 9,000 square feet of complementary ground-floor retail to activate the pedestrian streetscape along the planned Heroes Park. “This agreement is the result of careful, intentional planning, and it reflects the caliber of development our residents deserve. The University of Chicago Medicine has been a cornerstone of this community for years, and this expansion deepens a partnership we are incredibly proud of. It strengthens our community’s health, energizes our local economy and sets the stage for everything we are building in this corridor. This plan delivers what residents have asked for: a vibrant downtown with strong daytime activity, welcoming restaurants and retail near Heroes Park and

The agreement establishes predictable, recurring revenue streams dedicated to Heroes Park, the signature public green space at the centerpiece of the downtown district. The plan secures $10.16 million in ground rent over 25 years and $322,500 annually from UCMC’s lease of 215 garage stalls, revenues the Village will use to offset Heroes Park construction, debt service and ongoing operations, reducing pressure on the Village’s General Fund. Dodge noted that Heroes Park will serve as the connective tissue of the entire district, drawing residents, workers and visitors alike and creating the kind of lively, active environment that allows surrounding businesses to thrive throughout the day. Construction of Heroes Park is targeted to begin in late summer 2026, with completion planned for summer 2027.

| Summer 2026 | orlandpark.org

6