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PROPOSED NO CASH BID REQUEST
Requestor: Jessica Frances, Village Manager, Village of Riverside
Request: Approval of No Cash Bid Request
Location: Village of Riverside
Volume and Property Index Number:
186, 15-36-209-018-0000.
Summary: This Request Package contains one (1) PIN. The Village of Riverside (the "Village") has targeted a location within the Village for redevelopment. In the interest of utilizing the property for said purposes, the Village is seeking title to the following tax delinquent property and request that the Cook County Board of Commissioners submit a No Cash Bid for this property on behalf of the Village.
Currently the property is a partially occupied commercial structure, commonly addressed as 3250 S. Harlem Avenue, Riverside, IL 60546 ("Property"). This commercial structure abuts the structure on the adjacent property (PIN 15-36-209-017-0000) but is nevertheless a separate structure with its own utilities and, on information and belief, its own end wall separating the two structures. The Village has determined the Property to be owner-abandoned and partially occupied with tenants.
The Property three units unoccupied and three units occupied by businesses that, on information and belief, no longer have valid leases to occupy the Property. This Property includes the one level strip center which currently includes Comic Collector, Strive for Fitness, and Psychic & Tarot Card Readers.
Upon acquisition of the Property, the Village intends to solicit proposals for the redevelopment of the Property, which will include the rehabilitation and/or redevelopment of taxable improvement projects on the Property. Given the increasingly dilapidated condition of the Property, the Village and prospective developers will need to assess the condition of the Property at the time the Village acquires title in order determine the precise nature of that redevelopment. To the extent that the current tenant occupants remain on the Property whe...
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