EDG News

today's news

The U.S. economy is showing signs of improvement in the opening weeks of 2026, but rising federal budget deficits could push interest rates higher and create longer-term challenges for businesses and consumers, according to a new report from The Conference Board.

Investors re-engage with major markets away from the coasts

Chicago’s retail investment market held steady in 2025, posting $3.2 billion in completed transactions, in line with the $3.1 billion recorded the prior year.

Today's News

Elgin is revitalizing 61–65 S. Grove Ave. into 4 shops and 6 apartments. The $5.1M project preserves historic facades with TIF support. Approval set for Feb. 25.

today's news

U.S. construction project backlogs declined to a four-year low in January, signaling continued softness in demand across several property sectors, according to new data from the Associated Builders and Contractors (ABC).

today's news

The Illinois Department of Employment Security finally released monthly employment numbers for Illinois municipalities, counties, and metropolitan districts for the remainder of 2025 through December.

today's news

The Elgin Development Group tracks various bits of local data and uses this information to understand the local economic landscape.

today's news

The Midwestern hospitality markets of Kansas City, Chicago and Detroit show clear potential to outperform their current 12-month revenue per available room (RevPAR) forecasts through December 2026. Market participants point to strengthening demand fundamentals and a calendar of high-profile events as key sources of upside beyond baseline projections.

today's news

The Elgin Development Group monitors vacancy rates in the City of Elgin and throughout the county. Vacancy rates reflect changes over time in the local economy giving us information about different market conditions and segments. We also identify businesses that are expanding, investing, moving and creating jobs to thank expanding businesses for their investment. There are 11 different commercial property types that includes things such as retail, industrial, office, hospitality, health care and others.

build-to-suit project is a significant addition

Opus has officially broken ground on a new, specialized 52,174-square-foot facility for family-owned Elgin Recycling in Gilberts, Illinois. This build-to-suit project is a significant addition to the Turnberry Lakes Business Park, strategically placing it near Elgin Recycling's corporate headquarters and one of its four existing Chicago-area scrap yards.

Payment Created by Climate and Equitable Jobs Act to Protect Customers

ComEd today announced that over $803 million will be returned to customers under the framework established in Illinois’ Climate and Equitable Jobs Act (CEJA) enacted in 2021,

today's news

U.S. consumer inflation slowed to an annual rate of 2.4% in January, down from 2.7% in December. However, shelter costs — which include rents and housing-related expenses — continued to play a major role in keeping overall price pressures elevated by historical standards.

today's news

U.S. economic growth is poised for a rebound in 2026 after underperforming expectations in the final quarter of 2025, according to forecasts from Oxford Economics.

today's news

U.S. manufacturing activity expanded in January, marking its first monthly increase after 26 consecutive months of contraction, according to the Institute for Supply Management (ISM). The rebound was driven by rising new orders and a faster pace of production, though employment continued to contract and prices remained elevated.

today's news

U.S. population growth slowed sharply in 2025, rising by approximately 1.7 million people for an annual growth rate of 0.5%, according to the latest estimates from the Census Bureau. The pace was roughly half the 1% growth rate recorded in 2024 and marked the slowest annual increase since 2021.