The Illinois State Toll Highway Authority launched its Tollway Oases Redevelopment Project last week, unveiling designs to completely redevelop the seven oasis rest stops along the Tollway system.
National real estate developer Wilton Partners, with ExxonMobil, will invest $94 million in capital to improve the Illinois Tollway's oases, with no cost to the Tollway or its customers.
The agreements provide for payment of all the oases' operating costs and expenses for the next 25 years. A portion of revenue also will be set aside for future repair needs to ensure that the new oases remain fresh and do not fall into disrepair. Also, as part of the agreements, the Illinois Tollway will share in retail and gas sales revenues.
"We are excited about this innovative public/private partnership, which allows us to make significant improvements to the Tollway oases system at no
cost to customers," said Jack Hartman, executive director of the Illinois State Toll Highway Authority.
The new state-of-the-art oases will feature improved amenities and cleaner, brighter venues. The merchandising plan will offer a wider variety of national brand restaurants and traveler services, while still retaining the unique over-the-road configuration.
All oases will house from eight to 12 retailers and restaurants. Each oasis will be anchored by a McDonald's. Other prospective tenants include Starbucks, Krispy Kreme, TravelMart and Fifth Third Bank.
"We plan to transform the current tired, bleak structures into bright, state-of-the-art destinations with greatly expanded customer services and much enhanced convenience and appeal for the traveling public," said Jay Wilton of Wilton Partners, a national real estate development company specializing in retail projects.
This project will create an estimated 700 construction jobs and 500 permanent jobs in retail service and maintenance throughout the seven sites.
The seven Illinois Tollway Oases include:
-- Belvidere Oasis, Northwest Tollway (I-90) near Mile Post 55, in Belvidere, built in 1959
-- DeKalb Oasis, East-West Tollway (I-88) near Mile Post 93, in DeKalb, built in 1975
-- Des Plaines Oasis, Northwest Tollway (I-90) near Mile Post 1, in Des Plaines, built in 1959
-- Hinsdale Oasis, Tri-State Tollway (I-294) near Mile Post 26, in Hinsdale, built in 1959
-- Lake Forest Oasis, Tri-State Tollway (I-94) near Mile Post 58, in Lake Forest, built in 1959
-- Lincoln Oasis, Tri-State Tollway (I-80/94) near Mile Post 1, in South Holland, built in 1968
-- O'Hare Oasis, Tri-State Tollway (I-294) near Mile Post 38, in Schiller Park, built in 1959
Illinois To Refurbish Seven Rest Stops
The Illinois State Toll Highway Authority launched its Tollway Oases Redevelopment Project last week, unveiling designs to completely redevelop the seven oasis rest stops along the Tollway system
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