Flossmoor trustees on Monday, Feb. 16, approved an updated development agreement with OBE Studios LLC, clearing the way for the company to pursue Small Business Administration financing and move its proposed studio project forward.
Village Manager Bridget Wachtel told the board the item may have felt familiar, noting that the project was previously approved in January. However, adjustments were necessary to accommodate the financing structure required for a Small Business Administration loan.
“This probably feels like a round of déjà vu,” Wachtel said. “There’s no change to the project itself. Everything we discussed in terms of the development perspective is still exactly as presented. The only changes are technical adjustments tied to the purchase agreement and the financing structure.”
The revised agreement formally repeals the prior version and adopts updated language structured to align with the developer’s SBA loan process. Wachtel explained that village staff worked alongside the developer and legal counsel to restructure elements of the agreement so OBE Studios could meet loan requirements while maintaining the village’s previously approved incentive commitments.
Under the agreement, the village will convey the property at 3638 and 3648 198th St. upon satisfaction of required development conditions, including submission of plans, proof of financing and necessary permits. The project scope — which includes a soundstage, production building and related facilities — remains unchanged from what trustees initially approved.
Trustees voiced strong enthusiasm for the project, which is expected to bring film and media production activity to the village.
“I have no questions,” Trustee James Mitros said. “I hope everything is going well and progressing because I’m excited. I’ve already referred people about the prospect of you being in business in Flossmoor.”
Trustee Gary Daggett said public reaction has been overwhelmingly positive.
“From the time you presented, the only thing I’ve heard is, ‘That’s really cool,’” Daggett said. “People are very, very excited for the prospect of what you’re bringing.”
Barry Brewer of OBE Studios thanked the board for its flexibility and support.
“I just wanted to say thank you to all of you,” Brewer said after the vote. “Even just being in here two times, your spirits and who you are, what I see is just really genuine. I appreciate the Village of Flossmoor.”
He added that the project is already generating buzz beyond the village. During a recent commercial shoot in Chicago, Brewer said crew members were discussing the planned Flossmoor studio opportunity.
“This is really cool,” Trustee Kevin Dorsey remarked. “There’s a lot of people looking forward to what you’re going to bring to Flossmoor.”
The board approved the updated agreement unanimously.
With financing adjustments now in place, OBE Studios can continue pursuing SBA funding and advance the development process. Village officials framed the approval as a strategic economic development step, reinforcing Flossmoor’s commitment to supporting creative industries and diversifying its business base.
As one trustee put it, “Everybody’s playing for the same happy world here.”
