Downtown Itasca is concentrated around the Itasca Metra Station and the Walnut Avenue/West Irving Park Road intersection. West Irving Park Road bisects and provides primary access to Downtown.

In 2022, the Village approved the 2022 Downtown Strategic Action Plan after an extensive study-period, which included significant input and feedback from the public. The Downtown Strategic Action Plan established the future vision, goals, and priorities for Downtown Itasca. The Plan also provided for specific strategies and action steps to make the Plan a reality. One of those strategies is to establish a Tax Increment Financing district in the Downtown.

In 2024, the Village received a grant through the Regional Transportation Authority to redo its downtown zoning. Starting in May 2025, the RTA and its consultant started reviewing current documents. A project website is now live so you can follow along in the process.