ORLAND PARK, IL (June 16, 2026) - The Village of Orland Park announced a milestone advancement for Downtown Orland Park: a new ground lease with the University of Chicago Medical Center (UCMC) for an additional multi-story medical facility paired with an Amended and Restated Redevelopment Agreement with E&R Development LLC (Edwards Realty). Together, these agreements deliver a long-term medical anchor, a new medical facility, enhanced restaurant and retail activation, guaranteed public parking access and recurring revenues dedicated to Heroes Park.

Building on its decade-long commitment to the Orland Park community, UCMC will construct a new state-of-the-art musculoskeletal center of approximately 80,000 to 120,000 square feet on Parcel E, a 1.5-acre site at the northwest corner of 143rd St. and LaGrange Road. The multi-story facility will deliver a full range of medical services to the south suburban region. The facility will also incorporate between 3,000 and 9,000 square feet of complementary ground-floor retail to activate the pedestrian streetscape along the planned Heroes Park.

“This agreement is the result of careful, intentional planning, and it reflects the caliber of development our residents deserve. The University of Chicago Medicine has been a cornerstone of this community for years, and this expansion deepens a partnership we are incredibly proud of. It strengthens our community’s health, energizes our local economy and sets the stage for everything we are building in this corridor. This plan delivers what residents have asked for: a vibrant downtown with strong daytime activity, welcoming restaurants and retail near Heroes Park, and reliable revenues that fund our public spaces,” said Mayor Jim Dodge.

The agreement establishes predictable, recurring revenue streams that the Village will earmark directly to offset construction, debt service and ongoing operations for Heroes Park, the signature public green space at the centerpiece of the downtown district. The plan secures $10.16 million in ground rent over 25 years and $322,500 annually from UCMC’s lease of 215 garage stalls, revenues that the Village will earmark to offset Heroes Park construction, debt service, and ongoing operations, reducing pressure on the Village’s General Fund. Dodge noted that Heroes Park will serve as the connective tissue of the entire district, drawing residents, workers and visitors alike and creating the kind of lively, active environment that allows surrounding businesses to thrive throughout the day. Construction of Heroes Park is targeted to begin in late summer 2026, with completion planned for summer 2027.

Public parking access remains a central commitment. The existing approximately 547-stall parking garage will remain open to the public on evenings, weekends and holidays. Should UCMC exercise its option to purchase the garage at a future date, the Village retains those same public access windows and a proportional cost-share arrangement. The adjacent 207-stall surface lot will likewise be available to the public outside of UCMC’s peak daytime hours.

Amended and Restated Edwards Redevelopment Agreement: Key Provisions

The Amended and Restated Redevelopment Agreement with Edwards Realty restructures the original March 2025 agreement to reflect UCMC’s role while preserving the developer’s rights across the broader project. Key improvements include:

• Stronger Long-Term Anchor: The UCMC medical facility replaces earlier concepts, bringing high-frequency daytime foot traffic, hundreds of well-paying jobs and national-brand draw.
• Construction Safeguard: A 24-month structural steel commencement trigger is in place. If UCMC does not begin construction within two years of the agreement’s effective date, development rights revert to Edwards Realty, and the Village retains full flexibility.
• Performing Arts Center: Parcel C is prioritized for a performing arts center as a public anchor, giving the Village a defined period to conduct a feasibility study.If the Village does not commence construction within 36 months, Parcel C reverts to Edwards.
• TIF District: The Village will establish the Downtown Orland Park East Redevelopment Project Area and TIF District, activating parcels north of 143rd St. from LaGrange Road to John Humphrey Drive.
• Transparent Funding and Safeguards: Open-book TIF, phased notes and repayment-credit mechanics offer better control and auditability than the 2025 framework.
• Park and Public Realm Guarantees: Heroes Park is defined as a public amenity with a perpetual park covenant and a Special Service Area (SSA) to backstop long-term maintenance, improving amenity continuity.

“It is a privilege to work alongside Mayor Dodge’s administration and the Village of Orland Park on a project of this significance. We are deeply grateful for the Village’s vision and guidance throughout this process. This is a true partnership, and our shared commitment has always been to create a downtown destination that every resident of Orland Park can enjoy and take pride in. We are proud to be part of making that a reality,” said Ramzi Hassan, president of Edwards Realty.

Background

The Village of Orland Park established its Downtown Orland Park TIF and Business District to catalyze the original Main Street Triangle redevelopment and has worked for more than a decade alongside UCMC, which opened its Center for Advanced Care in the Triangle in 2015, to build a destination downtown anchored by healthcare, arts, dining and public space. Monday’s actions represent the most significant advancement of that vision to date, uniting an expanded world-class healthcare campus, a signature public park, vibrant street-level retail and restaurant, and a framework for the performing arts at the heart of Downtown Orland Park.

To learn more about the Village’s Downtown Orland Park development, visit orlandpark.org/dtop.

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