The Village of Mount Prospect, Illinois, is seeking proposals for the redevelopment of a 2.15-acre property at the southeast corner of Busse Avenue and Emerson Street, known as the “Busse and Emerson Site.” Recently acquired by the Village, elected officials and staff would like to see this vacant site transformed into a vibrant mixed-use development. This is a rare opportunity to “fill a gap” in Downtown Mount Prospect and the Village is seeking to establish a mutually beneficial agreement with a developer to create a generational impact in the heart of our community. Zoned B-5 Core Central Commercial (B5C), this large property is located within a 2-minute walk of the Village’s Downtown Metra train station with hourly service to Downtown Chicago, as well as numerous shops, restaurants, and coffee shops including Starbucks and Khepri Kitchen + Coffee. Recent mixed-use developments in Downtown Mount Prospect have added more than 700 new residential dwelling units in the last decade along with new retail opportunities and an Angelo Caputo’s Fresh Market. New construction rents have exceeded $3 per square foot for residential units, with all buildings stabilizing within 9-10 months of occupancy, well ahead of initial one year stabilization projections. This is a once-in-a-lifetime chance to transform a highly visible site in the heart of a thriving community in the northwestern suburbs.

SUBMITTAL DEADLINE EXTENDED TO JULY 25, 2025

Busse and Emerson Site RFP_May 2025

Walkthrough Q+A - June 19 2025

Download the Phase I Report Here