Title/Name/Summary
Dick's Sporting Goods House of Sport Update
History
The Village has been approached by Dick’s Sporting Goods with a proposal to redevelop the former Sears retail anchor at Orland Square Mall. The former Sears property at 2 Orland Square Drive has been vacant since the spring of 2018. There have been two proposals to redevelop the property since then. The first proposal to replace the former Sears included a 50,000sf addition to accommodate a new 10-screen AMC movie theater and a new concourse with a mix of retail and restaurant users. In 2019 the petition to redevelop the space was revised. The 2019 version still included an AMC movie theater as the anchor tenant, however there was a reduction of approximately 80,000sf of overall development. Due to the COVID-19 pandemic neither of these proposals moved forward.
The Village approached Dick’s Sporting Goods in the spring of 2024. They currently have a Letter of Intent (LOI) to purchase the 16 acres at 2 Orland Square Drive. Their intention is to construct their new concept Dick’s Sporting Goods House of Sport (HOS) on the upper floor with another retailer on the lower level. HOS is a new concept that exists at 21 locations nationwide. It features an approximately 120,000sf footprint with an 18,500sf multi-purpose field adjacent to the store. HOS utilizes experience-based retail and an increased level of customer service to drive additional traffic and sales to these locations.
In March of 2025, the Village Board passed a Tax Increment Financing (TIF) district reimbursement resolution. The resolution allows the Village to investigate establishing a TIF district to support the project and reimburse themselves and the developer for eligible expenses if a TIF district is created. The purpose of the resolution is to induce the redevelopment as it appears this could not occur without the adoption of TIF plan. The resolution does not obligate the Village to create of TIF district, however it is intended to induce Dick's Sporting Goods Inc. to pursue plans for redevelopment and to provide for the potential reimbursement of the Village's potential eligible costs and the developer's potential eligible costs in the event a TIF district is created. Dick's House of Sport intends to occupy the second floor of the 2 Orland Square Drive while another retailer will occupy the first floor.
Representatives from Dick's Sporting Goods will be in attendance to provide an update.
Recommended Action/Motion
Discussion only.