Updated: January 20, 2012 2:33AM
Libertyville Toyota Scion and its parent company, AutoNation, has acquired four acres adjoining the current location for future expansion.
The expansion will allow the dealership, at 1180 S. Milwaukee Ave., to house additional inventory and provide expanded service. Information about specific plans will be released in coming months.
Village officials have been working with AutoNation for several years to assist them in meeting site needs and retaining their business in Libertyville.
“This land purchase shows that Libertyville’s Mile of Cars is a strong auto retail area and that Libertyville provides the level of support that allows businesses to thrive,” said Libertyville Mayor Terry Weppler. “We are thrilled that AutoNation has made this investment.”
In 2008, the village designated business districts which cover the 14 auto dealership properties and provide incentives for the businesses to expand or update their properties.
As part of the village’s retention efforts, preliminary discussions were held with AutoNation regarding their eligibility for incentives.
“We appreciate the support the community has given us and look forward to a strong future in Libertyville”, according to Harry Brumley, director of real estate for AutoNation.
Libertyville’s car dealers are an important source of revenue for the village, representing approximately 59 percent of the village’s total sales tax base.
Weppler noted auto dealer revenues are a crucial source of funds for village operations, including fire and police service, road maintenance and more. The dealerships also employ hundreds of individuals, bring thousands of customers into the Village, and support the community through sponsorships of school activities, sports and service groups, he indicated.