About Shimer Square
Shimer College was incorporated as a female-governed Mount Carroll Seminary in Mt. Carroll in 1853. The College evolved and closed its campus in Mt. Carroll in 1979, sending a ripple effect and leaving leaders grappling with what to do next. Fearing the dissolution of the campus as a whole and the negative impact on the local economy, a group of citizens joined to purchase the campus and find a new purpose for it. They successfully kept the campus intact. Many years and many attempted efforts were made to keep the campus alive, until finally, all the buildings were abandoned and left vacant, with plans to give the deteriorating campus to the City.
In 2018, the City of Mt. Carroll began its search for a community-minded partner that would view the campus as an opportunity to revitalize, restore, and bring it back to life. By invitation, Rock Island Economic Growth Corporation (GROWTH), a 501(c)3 non-profit development organization, conducted a site visit, met with community stakeholders, and then received unanimous approval by its Board of Directors to acquire and create a comprehensive redevelopment plan to entirely revitalize this established footprint of 17-buildings within a 14-acre campus. GROWTH took title in December 2018. In May 2019, by community ballots and ultimately a coin toss by the Mayor, the campus was renamed Shimer Square, officially kicking off the multi-year, multi-phase redevelopment work throughout five (5) phases. GROWTH has been working diligently behind the scenes on the redevelopment models that involve complex financing structures to secure the financing necessary to kick off the comprehensive redevelopment plans it has set forth within Shimer Square.
Now in 2022, the campus is set to begin its transformation 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.
New residential rental housing along with new business incubators will be created designed to support entrepreneurship and grow start-up and small business opportunities. Total development costs exceed $60+ million and will be completed within five (5) to seven (7) years. Phase by phase, GROWTH will create new opportunity and an entirely new tax base for the Mt. Carroll community.
GROWTH’s redevelopment of Shimer Square advances many strategies set forth with in local, regional, and state planning objectives by means of supporting and nurturing small businesses through entrepreneur and startup incubators, developing the state’s workforce through construction related activity and business opportunities, and investing to catalyze growth by investing more than $60 million of redevelopment efforts within the Mt. Carroll, IL community.
In 2018, the City of Mt. Carroll began its search for a community-minded partner that would view the campus as an opportunity to revitalize, restore, and bring it back to life. By invitation, Rock Island Economic Growth Corporation (GROWTH), a 501(c)3 non-profit development organization, conducted a site visit, met with community stakeholders, and then received unanimous approval by its Board of Directors to acquire and create a comprehensive redevelopment plan to entirely revitalize this established footprint of 17-buildings within a 14-acre campus. GROWTH took title in December 2018. In May 2019, by community ballots and ultimately a coin toss by the Mayor, the campus was renamed Shimer Square, officially kicking off the multi-year, multi-phase redevelopment work throughout five (5) phases. GROWTH has been working diligently behind the scenes on the redevelopment models that involve complex financing structures to secure the financing necessary to kick off the comprehensive redevelopment plans it has set forth within Shimer Square.
Now in 2022, the campus is set to begin its transformation 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.
New residential rental housing along with new business incubators will be created designed to support entrepreneurship and grow start-up and small business opportunities. Total development costs exceed $60+ million and will be completed within five (5) to seven (7) years. Phase by phase, GROWTH will create new opportunity and an entirely new tax base for the Mt. Carroll community.
GROWTH’s redevelopment of Shimer Square advances many strategies set forth with in local, regional, and state planning objectives by means of supporting and nurturing small businesses through entrepreneur and startup incubators, developing the state’s workforce through construction related activity and business opportunities, and investing to catalyze growth by investing more than $60 million of redevelopment efforts within the Mt. Carroll, IL community.
