On Tuesday, September 20th, the Village Board of Trustees accepted a bid from True North Properties in the amount of $100,000.00 for the purchase of the former Senior Center building and surrounding property at 441 W. Main Street. This bid acceptance is subject to the negotiation and completion of a final development, purchase, and sale agreement. A formal redevelopment agreement was also approved between the Village and True North Properties on August 16th. Both the redevelopment agreement and the future purchase and sale agreement are contingent upon zoning approvals for True North Properties’ proposed redevelopment plans.
After the former Senior Center was vacated in November 2021, the Village released a request for proposals for the adaptive reuse of the property in early December. The request for proposals process provided the Village with flexibility to identify an excellent developer with an extensive background in renovating historic structures. Through this process, True North Properties was identified as the ideal partner for the Village.
True North Properties’ formal zoning petition has been scheduled for a public hearing before the Board of Zoning, Planning, and Appeals on October 13th. The final purchase and sale agreement will also be brought forth to the Village Board of Trustees for approval at a future meeting.
“I commend the Village Board and Village staff for working efficiently to identify a developer for the redevelopment of this building and property within a year of it becoming vacated. We are thrilled to be working with True North Properties and we are confident they will restore the former Senior Center building to its original glory," Mayor Kownick stated.
For more background information about this process, visit our website: https://caryillinois.com/656/441-W-Main-Street-Updates.