CONSTRUCTIONAPPROVED

City of Highwood Awards Construction Contract to Highwood Development Partners Corporation (June 2026)

City of Highwood approved a major redevelopment agreement with Highwood Development Partners Corporation for a mixed-use project at five Sheridan Road properties. The agreement includes city property sale for $2.75 million and up to $6.89 million in TIF bond financing to support the project over the TIF district term.

Status
APPROVED
Document date
June 2, 2026
Contract type
CONSTRUCTION
Vendor
Highwood Development Partners Corporation
Agency
City of Highwood · IL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$2,750,000 property purchase price; City Funding Obligation not to exceed $6,888,570
Contract type
CONSTRUCTION
Contract term
Through final payment of Net Incremental Property Taxes (expires with Downtown TIF District; Bonds lockout period 72 months)
Renewal
Bonds lockout period of 72 months. City funding capped at $6,888,570 paid from Net Incremental Property Taxes through Downtown TIF District's lifespan. Closing must occur by October 1, 2026 or agreement may terminate. Payment of deferred obligations tied to project refinancing, sale, or distribution events.
Document type
AgendaPacket
Source document
City of Highwood Agenda Packet 2026-06-02

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by City of Highwood?

Highwood Development Partners Corporation was awarded this construction contract by City of Highwood, as recorded on June 2, 2026. The contract value is $2,750,000 property purchase price; City Funding Obligation not to exceed $6,888,570.

How much is the Highwood Development Partners Corporation contract with City of Highwood worth?

The Highwood Development Partners Corporation contract with City of Highwood is valued at $2,750,000 property purchase price; City Funding Obligation not to exceed $6,888,570, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Highwood Agenda Packet 2026-06-02 (AgendaPacket), dated June 2, 2026 from City of Highwood. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Highwood Development Partners Corporation hold?

Highwood Development Partners Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Highwood Development Partners Corporation's profile

What is City of Highwood currently buying?

Explore City of Highwood's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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