According to this story on the Elmhurst Patch, the Elmhurst City Council is considering a joint public/private partnership with a developer to re-develop part of Addison Street (the east side) from Schiller Court (the little walk-thru alley) north to Second Street (which is where the mechanic's garage is). I think there is a one-story office building on the south end (next to Shiller Court) then 2 parking lots and the Mechanic's garage. There used to be a Greek restaurant in there, but they tore it down last year. The City is considering a retail only version or one with retail AND offices upstairs. Both options have a garage connected to them - which it seems is a big deal for everyone. I am partial to the bigger option that has office space - even though it is 20 feet taller. In this case, I think density is our friend. Those office jobs help feed the retail component by putting bodies in Downtown during the day which means more revenue opportunities for those stores/restaurants.
The full document is located here on the city's website. There's A LOT in there like a discussion of TIF's and comprehensive plans, but it seems that the City believes that this development will serve as the major stimulus to getting Addison Street going - and making Downtown a lot more lively. I think I'd tend to agree with them.