Homewood, IL
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Proposals and Project Information
The Village of Homewood continues to take steps to realize the development goals of the Village's 2024 Downtown TOD Master Plan! The Village has selected Holladay Properties to develop two Village-owned properties adjacent to Homewood's thriving transit hub - located at 2024 Chestnut Road and 2066 Ridge Road. The Village's will work with Holladay Properties over the next several months to create two developments that combine residential and commercial uses, supporting Village goals for creating vibrant and sustainable transit-oriented development while improving overall economic development. These developments will help Downtown Homewood continue to grow into a thriving regional hub of activity for decades to come!
This page will provide regular updates on the project as it develops. Interested in learning more? Contact Economic and Community Development using the information at the bottom of the page!
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March 10, 2026: Holladay Properties Selected as Developer
On March 10, the Village Board selected Holladay Properties of South Bend, Indiana to become the developer of the Village's two Downtown Transit-Oriented Redevelopment sites at 2066 Ridge Road and 2024 Chestnut Road.. The Village Board directed Village Staff to begin negotiations and planning/zoning reviews with Holladay to bring forward for approval at a later date.
The Village Board will discuss the alternative proposals and consider a decision for the project on March 10, 2026. Find quick access to all project information in the links below, or scroll down to learn more about each specific proposal.
Holladay Properties Proposal
Holladay Properties has proposed the following, totaling over $46 million in new investment:
- 2024 Chestnut Road: 118 market-rate apartments in a 5-story mixed-use building, with 2,000 square feet of commercial space, a plaza and two floors of parking (one underground) for residents.
- 2066 Ridge Road: 28 market-rate apartments in a 5-story mixed-use building, with 6,000 square feet of commercial space and surface/covered parking for residents.
Download the current version of the Holladay Properties proposal here!
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Document Database
Below is a database of all presentations, memos, and other reference documents from this process!
Presentation - Final Evaluation and Update by Village Staff (Village Board, February 10)
Presentation - Information Session and Update by Village Staff (Village Board, January 27)
Presentation - Review of Request for Proposals Results (Village Board, December 9)
Original Request for Proposals Posting/Guidebook (September 2025)
Village Board Meeting Videos/Minutes
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Project Timeline
The Village will partner with Holladay Properties to finalize development plans for both downtown properties. A timeline highlighting opportunities for public involvement in the process can be found below.
Agreements Review (April - June 2026): Village staff will work with selected developer to negotiate a redevelopment agreement (for incentives, development conditions, etc.) and purchase and sale agreement (sale of the property) based on the proposal provided to the Village above. The Village will regularly share updates about these documents, and they will be reviewed by the Village Board at a future meeting.
TIF Hearing (April 14, 2026): Village Board will hold public hearing to approve the new TIF district (Harwood TOD TIF) where both properties for this project are located.
Planning and Zoning Reviews (April - June 2026): This project will require three primary reviews: Planned Development Review, Site Plan Review and Appearance Review. Each of these will require public meetings. The Planned Development process also requires neighborhood/community meetings and additional public discussions of the proposal with the Planning and Zoning Commission.
This process is designed to ensure many opportunities for Village residents to engage with proposals while providing detailed and transparent analyses of proposals for this transformative project in Downtown Homewood. Watch this page and Village social media for more information on each step of the process.
Questions about how this process works? Contact Economic and Community Development using the contact information below!
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Contact us!
Interested in learning more about this project? Having trouble accessing documents on this page? Have some new ideas for downtown development to share with the Village? Contact Economic and Community Development using the information below! Our staff always welcomes questions and comments as we navigate this exciting development process!
Angela Mesaros, AICP, Director of Economic and Community Development
- (708) 206-3387
- amesaros@homewoodil.gov
Noah Schumerth, AICP, Assistant Director of Economic and Community Development
- (708) 206-3380
- nschumerth@homewoodil.gov
Or contact the main Economic and Community Development e-mail at pzc@homewoodil.gov!