85 acres of undeveloped land in Elk Grove Village known as Busse Farm could become the home of the new Elk Grove Technology Park, according to a Daily Herald report. The development, led by Brennan Investment Group, is estimated to cost $1 billion.

Busse Farm is located between East Higgins Road and Oakton Street.

The technology park will be designed for companies working in the automation space. The first phase of the project would require a $150 million investment. The developer would build four speculative buildings and set aside two sites for commercial development, per the Daily Herald.

As development progresses, the technology park would also include community space such as pedestrian paths and ponds.

The Busse family still owns the land but there are plans to complete a sale. If the property is sold this year, the Elk Grove Technology Park could break ground in early 2018. 

The mayor of Elk Grove Village, Craig Johnson, has been working with Brennan Investment Group on the project.