ECONOMIC GROWTH CORPORATION
  • About
    • Who We Are, What We Do
    • Meet the Team >
      • Brian Hollenback, President/CEO
      • Cindy Berg, Chief Financial Officer
      • Beth Payne, Senior Vice President
      • Carey Jorgensen, Director of Property Management
      • Andrew Fisher, Construction Director
      • Kerry Mangelsdorf, Office Manager & IT Support
      • James Jones, Housing Manager
      • Frank Perez, Financial Education Coordinator
      • Alex Stockwell, Controller
      • Kate Lackey, Accounting Assistant
      • Malory Jensen, Receivables and Grant Coordinator
      • Madison Prater, Accounts Payable Coordinator
      • Heather Starr, Executive Assistant
    • Awards
    • Bidding Opportunities >
      • Bid Process for New Contractors
  • Development
    • Multifamily >
      • Shimer Square
      • Northside Lofts
      • Wilson Lofts
      • Sala Flats
      • Renaissance & Goldman Lofts
      • Centre @ 501
      • Coatsworth Apartments
      • Lawrence Lofts
      • Star Block
      • The Locks
      • Jackson Square
      • Goldman Family Block
      • McKesson Lofts
      • Voss Brothers Lofts
      • Douglas Park Place
      • Bowlby Condominiums
      • Clipper Condominiums
      • Goldman Lofts
      • Renaissance Lofts
      • Broadway Townhomes
      • Murphy Lofts
    • Single Family >
      • Garden District
      • New Old Chicago Redevelopment Subdivision
      • Villas at College Hill
    • Neighborhood Stabilization Program
    • Illinois Attorney General Foreclosure Settlement Funds
  • Programs
    • Buying A Home >
      • Live-Work Rock Island
      • Moline Downpayment Housing Program
    • Fixing My Home
  • Housing Counseling
    • Housing Counseling Services >
      • Financial Literacy & Housing Counseling
      • Alfabetización financiera y educación para compradores de vivienda
    • Homebuyer Education >
      • Homebuyer Class Schedule
    • Personal Growth Workshop
    • Post Purchase Class
  • Subsidiaries
    • Central States Development Partners, Inc.
    • Home Base Property Management, LLC
    • Growth General Contracting, LLC
  • Publications
  • Contact

Shimer Square 

203 E. Seminary Street, Mt. Carroll, IL 
Mixed-Use
  • $36.57 Million Investment to Date
  • 260 Jobs Created/Supported
  • 51 New Rental Housing Units Created
  • 83 Childcare Openings
  • ​Resource Center
  • 1988.24% Increase in Tax Base by 2025
Rebuild Illinois, Resource Center, 51 Rental Apartments, Early Childhood Development Center
Shimer Square Website
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McKee/Hostetter Hall are the largest buildings within the Shimer Square campus, and will redeveloped in conjunction with Dezendorf Hall (pictured below) into 51 new, quality rental units ranging from studio, one, two, three bedrooms with amazing community amenities.
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Dezendorf Hall will be redeveloped in conjunction with McKee/Hostetter Hall (pictured above) into 51 new, quality rental units ranging from studio, one, two, three bedrooms with amazing community amenities.
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GROWTH broke ground on its Early Childhood Development Center on June 4, 2024. The appx. 5,000 SF building will create 83 childcare openings and 25 jobs with completion in 2025.
Shimer Square represents a transformative redevelopment initiative led by the GROWTH to revitalize the vacant former Shimer College campus nestled in the historic community of Mt. Carroll, IL. Committed to preserving the campus's unique character, historical significance, and integrity, GROWTH's revitalization effort emphasizes adaptive reuse and repurposing to create a modern mixed-use development that honors its past.

In 2023, construction commenced to enhance various facets of the campus, including preserving the campus' iconic front entry gate, implementing infrastructure improvements, establishing a Resource Center within the Sawyer House, and laying the groundwork for future redevelopment. A feasibility study conducted in 2023 overwhelmingly supported the establishment of an early childhood development center for families residing within a 30-minute radius of the campus.

In February 2024, the historical, adaptive-reuse redevelopment of McKee Hall/ Hostetter Hall and Dezendorf Hall closed on financing. This monumental achievement paves the way for the transformation of the McKee Hall/ Hostetter Hall and Dezendorf Halls to be historically redeveloped into 51 units of quality rental apartments, boasting a diverse mix of studio, one, two, and three-bedroom layouts.
 
in 2025, construction will be completed. GROWTH will proudly unveil its Resource Center, unveil 51 new studio, one-, two-, and three-bedroom apartments, and complete construction on its childcare center, where a licensed operator will staff and operate the facility.
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Name Changes Throughout History: Mount Carroll Seminary (1853); Frances Shimer Academy of the University of Chicago (1896); Frances Shimer Academy and Junior College (1932); Frances Shimer College (1942); Shimer College (1950); Restoration College Association (1970-80); Campbell Center for Historic Preservation Studies (mid 1980's-2018); Shimer Square (2019-current)
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New Early Childcare Development Center underway, with completion July 2025.
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GROWTH's redevelopment plan highlighted on the map features various initiatives, including a Resource Center, 51 rental housing units, an early childcare development center, and a construction office for subcontractors. This comprehensive effort also aims to lay the groundwork for future redevelopment efforts.
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In May 2019, by community ballots and ultimately a coin toss by the Mayor, the campus was renamed Shimer Square, officially kicking off GROWTH's redevelopment work. Since that time, GROWTH has raised more than $36 million that is being deployed within the campus.
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GROWTH is committed to repurposing the contents of the Shimer Square campus whenever feasible. Licensed curators were engaged in the early stages to offer expertise in inventory management and preservation techniques. Their guidance assists GROWTH in responsibly caring for the historical items present on the campus.
100 19th Street, STE 109
Rock Island, IL 61201
309-794-6711
​[email protected]
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Economic Growth Corporation and its subsidiaries are Equal Opportunity Providers.

Fair Housing/ Equal Opportunity Statements:
We are pledged to the letter and spirit of U.S. Policy for the achievement of equal housing opportunity throughout the nation. ​​In accordance with federal law and the U.S. Department of the Treasury policy, Central States Development Partners, Inc. is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability.  

Conflict of Interest Statement:
Economic Growth Corporation and its affiliates (collectively, GROWTH) require staff and members of the Board of Directors to comply with all applicable federal, state and local laws, rules and regulations pertaining to GROWTH’s activities, to conduct themselves ethically and with integrity; and to avoid any conflict between their own interests and the interests of GROWTH. 

  
  • About
    • Who We Are, What We Do
    • Meet the Team >
      • Brian Hollenback, President/CEO
      • Cindy Berg, Chief Financial Officer
      • Beth Payne, Senior Vice President
      • Carey Jorgensen, Director of Property Management
      • Andrew Fisher, Construction Director
      • Kerry Mangelsdorf, Office Manager & IT Support
      • James Jones, Housing Manager
      • Frank Perez, Financial Education Coordinator
      • Alex Stockwell, Controller
      • Kate Lackey, Accounting Assistant
      • Malory Jensen, Receivables and Grant Coordinator
      • Madison Prater, Accounts Payable Coordinator
      • Heather Starr, Executive Assistant
    • Awards
    • Bidding Opportunities >
      • Bid Process for New Contractors
  • Development
    • Multifamily >
      • Shimer Square
      • Northside Lofts
      • Wilson Lofts
      • Sala Flats
      • Renaissance & Goldman Lofts
      • Centre @ 501
      • Coatsworth Apartments
      • Lawrence Lofts
      • Star Block
      • The Locks
      • Jackson Square
      • Goldman Family Block
      • McKesson Lofts
      • Voss Brothers Lofts
      • Douglas Park Place
      • Bowlby Condominiums
      • Clipper Condominiums
      • Goldman Lofts
      • Renaissance Lofts
      • Broadway Townhomes
      • Murphy Lofts
    • Single Family >
      • Garden District
      • New Old Chicago Redevelopment Subdivision
      • Villas at College Hill
    • Neighborhood Stabilization Program
    • Illinois Attorney General Foreclosure Settlement Funds
  • Programs
    • Buying A Home >
      • Live-Work Rock Island
      • Moline Downpayment Housing Program
    • Fixing My Home
  • Housing Counseling
    • Housing Counseling Services >
      • Financial Literacy & Housing Counseling
      • Alfabetización financiera y educación para compradores de vivienda
    • Homebuyer Education >
      • Homebuyer Class Schedule
    • Personal Growth Workshop
    • Post Purchase Class
  • Subsidiaries
    • Central States Development Partners, Inc.
    • Home Base Property Management, LLC
    • Growth General Contracting, LLC
  • Publications
  • Contact