As noted in the Winter 2020 edition of Skokie Biz, the newly formed Oakton – Niles Tax Increment Finance (TIF) District was approved by the Skokie Village Board and has the unanimous support from all taxing jurisdictions. The 6.25 acre TIF District was formed to spur transformational development of Downtown Skokie and the region around ISTP.
Construction on multiple projects is expected to begin in spring 2020, including a new combined public/private parking garage, a new 143-room Homewood Suites by Hilton Hotel and Conference Center and continued improvement to 8030 Lamon Ave at ISTP to accommodate new/or growing life science companies and research facilities. Additionally, construction is underway at The BLVD, located at 8025 Skokie Blvd. The development will feature 40 two bedroom luxury rental units and 2,600 square feet of ground floor commercial/retail space.