Study for Move Illinois 294/57 interchange finds $500M+ in development and more than 6,000 jobs since 2020

The Planning and Development Oversight Committee of the Toll Highway Authority, Illinois State heard a presentation April 17 on an economic-impact study of the 294/57 interchange that concluded the project has coincided with substantial local development, new jobs and higher assessed values.

Executive Director Cassandra said the agency was “so pleased to bring to the board … a report on just the economic impacts that our Move Illinois program has provided,” and the committee heard detailed findings from an outside consultant, SB Friedman.

The study examined the interchange — a two‑phase project whose first phase opened in 2014 and whose final ramps opened in 2022 — and compared development in the study area to a larger Cook County “South Triad” assessment area. SB Friedman used the South Triad as a benchmark to avoid attributing regional growth to local investments, the presenter said.

Key findings presented to the committee included: - 3,750,000 square feet of additional development in the study area since 2020, with projects valued at more than $500,000,000. - An additional 590,000 square feet of projects that are under construction or in the pipeline. - The emergence of multiple logistics facilities and at least one large Amazon facility among the new development. - Employment in the study area that the presenter said exceeded pre‑pandemic levels, with more than 6,000 jobs attributed to new development. - Growth in assessed property values since 2017 that outpaced inflation and the larger South Triad area, with the nonresidential share of assessed value increasing and thereby reducing the property tax share borne by homeowners.

The presenter said the interchange addressed a historic lack of direct access between I‑294 and I‑57 and local connections at 147th Street, which previously forced traffic onto local streets. The report ties the improved travel times and expanded market reach to increased visibility for local businesses and improved labor access, which the presenter described as factors that attracted industrial and logistics users to the area.

Committee members and staff emphasized that development can lag infrastructure by many years; the consultant noted it can take a decade to realize the full economic benefits of major transportation investments. The presenter said the detailed report will be posted on the Tollway’s website and shared with local communities and stakeholders, and the agency will begin similar studies on other corridors funded through the Move Illinois program.

The committee did not take formal action on the study; the presentation was informational and committee members asked for timelines on future corridor studies and suggested packaging summary findings for legislators, local officials and system users.