The Joliet City Council has approved an updated development agreement to advance the Rock Run Collection, a 310-acre mixed-use project planned near the intersection of Interstates 55 and 80.
City officials say the development is expected to transform the area into a major regional destination for shopping, dining, entertainment, residential living, and recreation while creating thousands of jobs and generating long-term tax revenue for the city.
A major centerpiece of the next phase of development will be a new Dick’s House of Sport location, a retail concept from Dick’s Sporting Goods that combines traditional sporting goods retail with interactive sports experiences, training areas, and athletic programming.
City leaders say the addition of Dick’s House of Sport is expected to help attract additional national retailers and increase the visibility and scale of the overall development.
“Rock Run Collection represents a transformational investment in Joliet’s future, and Dick’s House of Sport is a game-changing anchor that helps the development reach its full potential,” said Joliet Mayor Terry D’Arcy.
According to the city, the agreement includes a $37 million general obligation bond structured on a pay-for-performance basis. Officials said no public funds will be provided upfront, and financing will only be issued in phases as the project reaches specific milestones such as store openings, signed leases, and vertical construction progress.
“This is about creating a destination that attracts high-quality retailers, generates jobs, and drives long-term economic growth,” says D’arcy
The city also stated that the bond will be repaid only with new sales tax revenue generated by the development itself.
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According to city officials, the payments will not be made upfront and will be paid only after the City receives revenue generated by the development. This ensures the City is paid first and significantly reduces financial exposure.
Mayor D’Arcy added that the agreement was designed to hold the developer accountable throughout the project.
“This structure ensures accountability by the developer at every stage,” D’Arcy said. “The City only carries financial risk in proportion to the project’s success against clearly defined performance measures.”
Located at one of the region’s busiest highway corridors, city officials say approximately 228,000 vehicles pass through the Interstate 55 and Interstate 80 interchange daily, positioning Rock Run Collection as a major future destination for both residents and visitors.
The city estimates the next phase of development could generate approximately 8,000 construction jobs and 5,000 permanent jobs across multiple industries.
Officials described the Rock Run Collection as a key part of Joliet’s long-term economic development strategy designed to combine commerce, entertainment, and community into a next-generation regional destination.
