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PROPOSED NO CASH BID REQUEST
Requestor: Stan Urban, Village Administrator, Village of Dolton
Request: Approval of No Cash Bid Request
Location: Village of Dolton
Volume and Property Index Number:
201, 29-09-114-009-0000.
Summary: A No Cash Bid Request Package to acquire the following parcel of real property located at 300 West Sibley Boulevard, Dolton, Illinois 60419 (the Property):
The Property is improved with a grocery store that has been abandoned and remained unoccupied for at least six (6) years. The Village will file for tax exempt status once the Property has been acquired. Once tax exempt status is obtained, the Village intends to demolish the structure, and possibly market the same for redevelopment by a third-party. If the Property is sold and redeveloped by a third-party, it would no longer be exempt from taxation. The Village initiates this request on its own, and there has been no request by a third-party for the Village to acquire the Property or to convey the certificate of purchase or the perfected tax deed(s) to said third-party purchaser.
The Village will retain legal counsel to obtain the tax deed and bear all legal costs and other costs associated with acquisition of the Property. The Village will submit annually to the Cook County Department of Economic Development "No Cash Bid Reports" on the status of each parcel for five years, or until the intended use and development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
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