​Rediscover Shimer Square.

In the center of the historic community of Mt. Carroll, IL sits a former college campus, with 14 rolling acres, historic trees, and 17 brick buildings ready for revitalization.  Rock Island Economic Growth Corporation d/b/a Economic Growth Corporation (GROWTH) is working to breathe new life into this historic campus through its revitalization efforts that will result in new residents, new businesses, and enhanced quality of life.  The campus has a rich history of academics.
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Times evolved and needs changed, but one remained constant- the community’s will to never give up on its beloved campus. In 2018, citizens joined together for the sake of their historic asset in search of a community-minded partner to preserve and revitalize its community anchor with shared vision to restore the campus’ natural beauty, capitalize on community pride, and bring the campus back to life.  GROWTH took title to the property December 31, 2018 and has developed a comprehensive, multi-year development plan aimed at the preservation and revitalization of Shimer Square’s historic fabric while protecting its historic integrity.

As a minority-controlled, mission-driven organization, GROWTH identifies its redevelopment plan and works to raise capital behind the scenes until it is able to close and begin construction. In any given time, this takes an average of 3 years. In these unprecedented times post-COVID with rising construction costs, labor shortages, rising interest rates, GROWTH continues to persevere and is proud to present its updates on Shimer Square to the Mount Carroll City Council and community.

To date, GROWTH has been successful in attracting resources amounting to $32,550,000 that will be deployed directly into the campus to create vital housing, business, and community amenities. This will create a new tax base to further increase the quality of life and community amenities that Mount Carroll proudly offers.

Happy Holidays!

Warm wishes from Economic Growth Corporation! Revitalization of Shimer Square is underway! We hope you will pardon our dust as construction kicks off at Shimer Square in early 2023! Wishing you and yours the happiest of holidays!

Activity at Shimer Square! $1.5 Million Rebuild Illinois grant contract awarded, work beginning

Residents in Mount Carroll, IL are seeing some construction activity at Shimer Square as GROWTH begins to deploy its $1.5 million Rebuild Illinois grant contracts. 

“GROWTH has been diligently working behind the scenes for years to secure all of what the community is about to visibly see within the Shimer Square campus. Once trucks start pulling up, mark that as a huge pendulum swing with major construction activity following right behind it,” remarked Brian Hollenback, President/CEO. He continued, “Shimer Square’s redevelopment has attracted millions in federal and state resources. We have a lot of support and momentum. Look for big things happening in 2023.”

Thanks to a State of Illinois’ Rebuild Regional Economic Development Grant award, GROWTH is kicking off Shimer Square's comprehensive redevelopment plan to entirely revitalize this historic, vacant former college campus by transforming it into a mixed-use, diversified portfolio of housing, business incubation, artist, and community space as a sustainable, diverse, inclusive, equitable historical community asset built for the future. GROWTH was one of 11 non-profits awarded Rebuild Illinois funds throughout the state of Illinois. Its $1.5 million award will be leveraged with an additional $33 million in these initial redevelopment efforts within 14-acre Shimer Square campus.

View full press releases and activity updates here. 

Commencement Celebration held on May 28, 2022 where Mayor Carl Bates introduced Brian Hollenback, President/CEO for GROWTH who took the time to update the community on development updates, that construction soon begin. “Our first commitment was to bring Mayfest back to the Shimer Square campus. It only makes sense that three years later, after one intervening pandemic, we come back to Mayfest to update the community on our good news, and to assure the same community that GROWTH is working hard behind the scenes to advance the shared plans that are starting to be realized for this historic campus.” ~ Brian Hollenback, President/CEO. Photo courtesy of the Carroll County Mirror-Democrat.

Contact Us

GROWTH is a 501(c)3 non-profit community-based development organization with a national footprint. GROWTH's home office is located at 100 19th Street, Suite 109, Rock Island, IL 61201.

Equal Opportunity Provider.

Phone: (309) 794-6711
Email: info@growthcorp.org

​NOTICE: Effective Sunday, August 21, 2022 and until further notice, Economic Growth Corporation will prohibit public access to the 14-acre Shimer Square campus at 203 Seminary Street.  Violators will be asked to leave the campus and if they choose not to will be prosecuted to the fullest extent of the law. For many months, multiple buildings within Shimer Square have been repeatedly vandalized, causing hundreds of thousands of dollars in damage.  Since taking title to Shimer Square in 2018, Economic Growth Corporation has kept the campus open for the public to enjoy, however,  for the safety of all, the campus is closed to the public until further notice. Anyone with information related to the vandalism that has unfortunately been occurring on the campus is asked to contact the Mt. Carroll Police Department at (815) 244-5313.