Lake Zurich Searches for Economic Director to Jump Start Economic Development

A sign reading “Destination Lake Zurich”  hangs on a side of an abandoned building in downtown, a symbol of the village’s hopes and dreams of revitalization.

Those hopes and dreams are again taking shape as the village’s downtown generates developers’ interest and Lake Zurich moves to hire an economic development manager to guide its future development.

 “We recognize we have a big void in the area of economic development,” Village President Tom Poynton  said Thursday at a Lake Zurich Area Chamber of Commerce breakfast. “We are in the process of looking for the right person for our newly formed economic development position.”

Lake Zurich has posted the job and has received several resumes. “We are getting close,” Poyntor said of the search. The village is considering establishing an economic development committee as well.

“Once the new economic development manager position is filled, we will increase our activity in marketing our properties, promoting downtown,” Poynton said.

Everyone is interested in downtown, he said, during the Lake Zurich Chamber’s annual Breakfast with the Villages at Kemper Lakes Golf Club, in Kildeer.

Staff has completed review of a project by LZ Promenade LLC and developer John Breugelmans will have a short time to respond to the comments, Poynton said. “Based on his (Breugelmans’s) response, we will have some decisions to make,” he said.

Discussions are underway for M/I Homes to finish Somerset Townhomes, Poynton said. Somerset, located off Main Street, is a townhome developed that stalled years ago.

Developer David Smith recently purchased the Bank of America building and is considered using it as a restaurant, possibly with some rooftop seating, Poynton  said. “He’s been strongly encouraged to move forward,” he said.

The old Z&E Auto Repair and some other downtown buildings will be torn down because they will not be redeveloped, he said.

  “I know it’s not economic development, but it will sure make the town look better,” Poynton said.