1 N. Cass Avenue - Sale of Real Estate
Board to consider an ordinance approving a real estate sales agreement for the sale by the Village of 1 N. Cass Avenue, 14 N. Linden, and the parcel known as P.I.N. 09-10-120-034 to Westmont Development Corp., LLC for a mixed use redevelopment project.
- Background of Subject Matter
- The Village has negotiated a real estate contract to sell Village-owned property to be incorporated into a 7-story mixed use development. The sales price equals the appraised value.
- Additional Background
- The ordinance approves the contract and authorizes the Village Manager and Village Attorney to take the necessary steps to close the transaction. The sale is contingent upon the developer obtaining zoning and other approvals for this development.