Business, Local News

Homewood trustees approve $850,000 in startup assistance for Stoney Point Grill

The owner of Stoney Point Grill told the Homewood Board of Trustees on Oct. 25 that the restaurant, which will anchor the Hartford Building under construction in downtown Homewood, could bring 30 to 40 jobs to town. 

James Burke said he has owned Stoney Point Grill in Mokena for 17 years. 

“I’ve always wanted to have a second location,” he said. 

The new location in Homewood will have a similar menu to the original, with an emphasis on “hearty food,” including burgers, steaks, pot roast and seafood. 

Stoney Point Grill owner James Burke describes plans
for the restaurant’s second location, which will
open in Homewood next year. (Eric Crump/H-F Chronicle)

“We’re going to upscale it a little from our current location,” he said. 

Trustees approved $850,000 from the Downtown Transit Oriented Development Tax Increment Financing District and from non-TIF business development funds to help with the $1.5 million buildout costs for the restaurant. The village will make an initial payment of $425,000 within 30 days of the restaurant opening, followed by $85,000 per year for five years.

Based on Burke’s sales estimates, village officials said the restaurant could generate about $1.5 million in sales and places of eating tax revenue over the life of the TIF district, which expires in 2040.

The restaurant is expected to benefit other downtown businesses, too. In a memo to the board,¬†Economic Development Director Angela Mesaros said, “The restaurant will bring in additional foot traffic and add to the vitality of the downtown.”

Burke said he hopes to open by summer 2023 if all goes well.

The Stoney Point project was one of a number of business-related measures approved by the board.

  • Balagio Ristorante at 17501 Dixie Highway will receive $3,500 in non-TIF business incentives to help improve landscaping.
  • DJM Real Estate will receive $8,000 in non-TIF business incentives to help with facade improvements, tuckpointing and pressure washing of the building at 2001 Ridge Road.
  • EMA Building Corporation will receive $11,250 to make improvements to flooring, doors and signage at 18676 Dixie Highway in the Southgate Tax Increment Financing District.
  • NuSole Wellness Spa was granted a special use permit to operate a salon/spa establishment at 18664 Dixie Highway. 

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