Wilmette is collecting more than double the sales tax revenue it used to from Plaza del Lago, the first hard evidence that the Sheridan Road shopping center's luxury transformation is paying off for village finances.

Finance Director Melinda Molloy told the Village Board on Tuesday, July 28 that the historic center generated $254,000 in combined general and home-rule sales tax over the six months from October 2025 through March 2026.

The village typically collected about $102,000 from Plaza del Lago businesses over the same span. That's a 149% increase, or roughly $152,000 in new revenue, according to The Record North Shore.

Projected over a full year, the bump exceeds $300,000.

The numbers don't yet reflect some of the center's newest tenants. Because Illinois remits sales tax collections to municipalities on a delay, revenue from full-service restaurant The Henry that opened in June, hasn't shown up in village data.

Hermès and Oscar de la Renta are also still to come.

WS Development, the Massachusetts-based firm that purchased the 100,000-square-foot center in 2022, has signed tenants including rag & bone, Jenni Kayne, Thom Browne, Veronica Beard, and LoveShackFancy.

As we reported July 8, L.A. brand DÔEN also chose the plaza for its first Midwest location. Johnnie-O, a golf apparel brand founded by Chicago native John O'Donnell, opened its first standalone Midwest store at the center on Saturday, August 1.

Village-wide, Molloy's presentation painted a strong picture. Combined sales tax and home-rule sales tax revenues have hit $4.73 million year-to-date, up 16% over 2025 and 11% above budget projections.

Grocery tax tracking slightly below target

Wilmette's 1% grocery tax, which took effect January 1, 2026, brought in about $127,000 in its first three months of state-reported data. At that pace, the village projects collecting roughly $550,000 for the full year, about 8% below the $600,000 officials had anticipated. More than 600 businesses have remitted the tax so far, though only about 50 have sent more than $50, suggesting the revenue is concentrated among a handful of larger grocers.

The village adopted the tax in September 2025, replacing a state grocery tax that expired at the end of that year. Neighboring communities including Winnetka, Kenilworth, Northfield, and Glencoe had already approved the replacement before Wilmette acted.

Home prices climbing

Wilmette's average home sale price now sits at approximately $1.23 million, up from $1.18 million reported last summer and nearly 8% higher than 2024. Real estate transfer tax revenues are running 10% above projections, even as the number of transactions has declined for a second straight year.

"We had expected that to happen in 2026 and we are in fact seeing that," Molloy said of the price-up, volume-down pattern at the Tuesday, July 28 meeting.

North Shore Business Week Ahead

Saturday, August 1 — Johnnie-O grand-opening event, 6:30–8:30 p.m., Plaza del Lago, 1515 Sheridan Road, Wilmette. The golf apparel brand's first standalone Midwest store celebrates its opening in the 760-square-foot space adjacent to Starbucks.