By: Diane Cullinan Oberhelman, Cullinan Properties, Ltd.
An expansive project that is bringing new development and jobs to Illinois is beginning to take shape at the crossroads of I-55 and I-80 in southwest suburban Joliet where Illinois-based Cullinan Properties, Ltd. has started construction on the new 265-acre mixed-use development, known as Rock Run Crossings. Both Rock Run Crossings and the new I-55 at IL 59 interchange are transformative projects for Joliet and Will County that will positively impact Illinois at the gateway to Chicagoland. The projects are also important to helping jumpstart the local and state economies, moving Illinois down the path toward economic recovery from the pandemic- induced economic disruptions.
Cullinan Properties, a certified Women’s Business Enterprise founded by Diane Cullinan Oberhelman in Peoria, IL in 1988 is a leading provider of real estate services specializing in commercial and mixed-use developments and acquisitions with offices in Chicago, IL, Peoria, IL and St. Louis, MO. Cullinan Properties has a proven track record and has successfully completed many projects in Illinois and throughout the country, including numerous medical, office, multi-family, governmental and mixed-use developments.
Rock Run Crossings is an exciting super-regional mixed-use development having excellent visibility with over 1 million square feet of dedicated space for retail, restaurants, entertainment, hospitality, office, medical, and multi-family residential. The location gives Rock Run Crossings convenient regional access from Chicago, Central Illinois, Iowa, and Indiana markets. Regal Cinemas has been announced as an entertainment anchor, bringing a 70,000 square foot theater with the newest cinema technology available along with many other uses in the mixed-use category.
The I-55 corridor is currently experiencing significant growth in new business and employment to the area, along with major forecasted growth in population and employment for Will County through 2040. Once fully completed, it is estimated that $1.3 billion in sales tax and property tax revenue will be generated over 20 years from Rock Run Crossings and spin-off development, and at least 5,000 permanent jobs and 8,000 new union construction jobs will be created.
Chairman/Founding Partner
While 2020 had significant engineering and on-site grading work completed, 2021 will bring even more jobs and progress, including IDOT’s construction of a new I-55 at IL 59 interchange that is now underway, and several additional roadway improvements that will improve safety, capacity and efficiency, and reduce traffic congestion in the area. The projects were awarded a $20 million BUILD Grant in 2020 to assist with the improvements.
This is truly a new gateway to Chicagoland – one that will reflect an energetic vibrancy at the national crossroads of I-55 and I-80.