Right at Home: Reasons businesses call Oak Brook home

By Katie Bolinger

In 1966, an advertisement in Forbes magazine showcased the advantages of establishing an office in Oak Brook. The Oak Brook Development Company, in collaboration with Del. E. Webb Properties and Paul Butler Properties, strategically targeted large
corporations, highlighting the area’s commercial success. Those advantages are still why companies such as Ace Hardware, Advocate Health Care, Blistex, Chamberlain Group, Elkay Manufacturing, Federal Signal, Hub Group, Inland Real Estate, and many others call Oak Brook home.

Accessible Location

Oak Brook is only 25 minutes from downtown Chicago and 15 minutes from O’Hare Airport, yet it feels a world away from the city’s hustle and bustle. The Village is served by a network of major federal, state, and county roads, including the Tri-State Tollway system, the East-West Tollway, and the Eisenhower Expressway. Everyone we interviewed said getting to and from Oak Brook was a breeze, which was a major factor in locating here.

ITSavvy CEO Munu Gandhi stated that when considering relocating their headquarters, they aimed to ensure employees’ commutes varied by no more than five minutes, plus or minus, from their usual travel to their former Addison location. Oak Brook’s highway access offered an easy commute.

Qualified Labor Pool

Thousands of highly skilled workers and executives live in and around Oak Brook. According to G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC, and President of Inland Real Estate Acquisitions, LLC, “DuPage County has a large employee base.” Indeed, DuPage County has a vibrant labor force exceeding 350,000 individuals, with more than half holding a bachelor’s degree or higher. This is significantly higher than the national average of 32.9%.

Prestige

When purchasing a building in 1979, Cosenza asked the seller if he had any other properties he wanted to sell. The seller mentioned two adjoining buildings in Oak Brook at 1919 Midwest Road. Cosenza called his partners and said they could have an Oak Brook address. Cosenza said locating to Oak Brook meant, “Class! When you had an Oak Brook address, it meant you were a big player.” Two weeks later, the Inland Real Estate Group became a big player. Over the years, Inland has thrived and expanded four times. By 1986, they consolidated their operations under one roof in Oak Brook, a testament to their enduring commitment to the community.
Gandhi noted that ITSavvy also chose Oak Brook to elevate its brand for customers, employees, and business partners.

Low Taxes

Oak Brook boasts the region’s lowest commercial and residential property tax rates, with no municipal property tax burden. Revenue from sales and hotel taxes funds essential services with minimal business impact. Every person we interviewed mentioned this as a major factor in their decision to locate here.

Property Values

In 1966, the Oak Brook Development Company advertised that sensible zoning, building controls, and outstanding community planning protected property values.

Oak Brook’s strict zoning separates homes and businesses on either side of the East-West Tollway (I-88). In residential areas, spacious, tree-covered lots provide a peaceful place to call home.

The zoning code controls the frontage, parking facility design, and building height in commercial areas. The result is sleek, low-rise office buildings tucked away from the main roads and surrounded by greenery.

Residential property values have grown significantly compared to incomes across most of the country over the past decade. According to the Federal Housing Finance Agency, home prices soared by 74% from 2010 to 2022, outpacing the average wage increase of 54%. Oak Brook exemplifies this positive trend, with its home prices ranking among the highest in Illinois and consistently being some of the most prestigious in America. Despite these high costs, Oak Brook proudly maintains an impressive homeownership rate of 95.4%, showcasing the area’s robust demand and real estate stability.

As Oak Brook’s aging population —58.7% are over 45—becomes empty nesters, they no longer need the larger homes that once housed busy families. Cosenza observed, “Those under 45 don’t want the mansions in Oak Brook, so they end up in other suburbs.”
According to Cosenza, “Commercial property values are down, which is not unique to Oak Brook; it’s unique to America. It’s a reaction to COVID. People are working from home more now. This is good for employees. It’s also good for businesses because they don’t need to rent as much office space. It’s bad for camaraderie. It’s also bad for landlords, who still need to pay building mortgages. Oak Brook’s commercial buildings are selling at a loss. That’s not the fault of Oak Brook’s government or the Planning Commission; it’s an overreaction to COVID.”

Business-friendly government

Cosenza attributes The Inland Real Estate Group’s relocation to Oak Brook partly to the Village’s supportive business environment and the proactive engagement of its Chamber of Commerce.

The Village supports businesses opening in Oak Brook beyond a business-friendly tax code. Hub Group, a leading supply chain solutions provider, built its headquarters complex in Oak Brook. To officially celebrate the new office’s opening, a grand opening and dedication of the street for the newly named Hub Group Way were held on July 14, 2022.

The Greater Oak Brook Chamber of Commerce and Economic Development Partnership reports that over 100,000 people work or visit Oak Brook daily, boosting the local economy. The Chamber attracts new businesses, creates opportunities for existing ones, collaborates with government officials to support business needs, and identifies transportation and infrastructure improvements that can attract and retain a talented local workforce. Additionally, they develop attractions and marketing initiatives to enhance tourism and economic growth.

Bucolic Setting

Paul Butler dreamed of creating the perfect setting for enjoying the good life, including rolling meadows and woodlands. The zoning in Oak Brook preserves serene spaces away from the surrounding bustle, which benefits residents and workers alike. Underground infrastructure minimizes visual clutter, while architectural and landscaping standards maintain a favorable business image. For example, when erecting a new building in Oak Brook, at least 5% of the total project construction cost must be budgeted to purchase and install mature-sized trees, shrubbery, grass, and other suitable landscaping.

Signage in the Village is also strictly regulated. Flashing lights do not illuminate signs here. You won’t find a billboard in Oak Brook, nor will you see a sign on a tree or utility pole, whether on public or private property, looking for a lost cat.

Amenities

Oak Brook offers an array of amenities that have become increasingly important post-pandemic. Fitness centers, restaurants, meeting rooms, ample parking, and security in office buildings give employees reasons to come to the office. ITSavvy CEO Munu Gandhi notes, “The fact that Oakbrook Center is so close has been a good thing. Employees can go to lunch, meet after work for a drink, or invite their significant other to go shopping. Some employees even walk on the trails at lunch.”

Oakbrook Center is one of the largest premier shopping destinations in the country. It offers over 160 upscale specialty stores, dining, and entertainment options.

Oak Brook’s restaurants, from McDonald’s to Michael Jordan’s Steakhouse, cater to any budget and appetite. Additionally, eight hotels with over 1900 guest rooms can accommodate out-of-town business partners.

Employees and residents also have ample opportunities for sports and recreation, including one public and two private golf courses, miles of multi-purpose paths, and top-notch village and park district recreation facilities. ■