Building on Strength
State of the Village highlights Oak Brook’s financial stability, business growth and long-term vision.
For the second consecutive year, the Greater Oak Brook Chamber of Commerce sponsored the State of the Village presentation featuring Village President Larry Herman. Held in May, the annual forum brought a robust crowd of local business leaders to Butler Government Center to hear more about Oak Brook’s strong position today and its future direction.
David Carlin, President and CEO of the Greater Oak Brook Chamber of Commerce and Economic Development Partnership, who organized the event, shared, “This year’s State of the Village was a terrific, informative, and transparent presentation of the hard work and great service President Herman, Oak Brook’s other elected officials, and staff provide to Oak Brook’s residents and businesses.”
Village President Herman emphasized that Oak Brook is building on a foundation of financial strength while strategically investing in economic development, public safety and infrastructure—all without imposing a municipal property tax.
Central to the presentation was the vital relationship between Oak Brook’s residential and commercial sectors. The Village generates an estimated $421.9 million in annual revenue for the State of Illinois–approximately 12 times more per resident than the statewide average. Continued sales tax growth has enabled Oak Brook to maintain its low 7.75% sales tax rate while foregoing a local food and beverage tax.
Attracting and retaining businesses, restaurants and retailers remains a top priority. The Village continues to promote Oak Brook’s competitive tax structure, premier location, exceptional quality of life and strong public safety while actively engaging current employers and prospective businesses.
One of the event attendees, Jeffrey Mann, Senior Vice President at CBRE, the world’s largest commercial real estate services and investment firm, stated, “Oak Brook is a great place to work, shop and live, and President Herman did an excellent job of guiding us through the facts that support it at the annual State of the Village event. I really enjoy doing business in Oak Brook and appreciate how business-friendly the culture is.”
President Herman also identified the revitalization of Butterfield Road and other commercial districts as significant opportunities for redevelopment and future revenue growth. Planned beautification projects will further strengthen key commercial corridors and enhance Oak Brook’s appeal as a destination for business and investment.
While optimistic about the Village’s future, Herman acknowledged important challenges ahead, including aging infrastructure and unfunded public safety pension liabilities.
Addressing these long-term obligations while preserving Oak Brook’s low-tax, high-service model will remain a central focus.
