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PROPOSED MISCELLANEOUS ITEM OF BUSINESS
Department: Department of Real Estate Management and Department of Transportation and Highways
Summary: Requesting authorization to have certain County-owned property, known as EL-453, within the Midwest Court right-of-way, between IL-72 (west) and Busse Road (east) in Elk Grove Village declared as “Surplus Property” by the Board of Commissioners of Cook County and to convey the property to the Village of Elk Grove Village. This land parcel was approved for vacation by the Cook County Board of Commissioners on January 26, 2023. EL-453 consists of approximately 0.829 acres and is a slightly irregular-shaped parcel of land in Cook County Commissioner District 15.
Cook County Department of Real Estate Management was notified that Elk Grove Village is working to redevelop the land adjacent to this parcel into a high-tech data center campus. The redevelopment project by Elk Grove Village includes over $1 billion in investment and is anticipated to generate tens of millions to local taxing districts. The acquisition of the surplus parcel will provide additional space for development, which will significantly enhance the Village’s economic development efforts and provide a benefit to Elk Grove Village’s residents and numerous residents County-wide. The disposition of this County, Right of Way, is recommended as the parcel is not necessary for County use but is essential to connect key properties to the rest of the Redevelopment Project area. The Right of Way to be transferred to Elk Grove Village will enhance development potential of the adjacent property and allow for a subsequent permanent easement for drainage purposes to be established, per IDOT’s requirements.
Pursuant to Cook County Code Chapter 66, Section 66-3 (the “Surplus Highway Property Ordinance”), the Cook County Department of Transportation and Highways has determined that this property is “surplus.” The Real Estate Management Division has determined that the parcel to be transferred is not needed for other County purposes. This determination is based upon the irregular size of the parcel, location in a vacated roadway and the restrictions that will be placed on the parcel with the subsequent easement to be established for drainage purposes.
In accordance with the Surplus Highway Property Ordinance, the Real Estate Management Division and the Department of Transportation and Highways recommend conveyance of EL-453 to the Village of Elk Grove Village. The parties have agreed on a price $700,000. $768,500.00., which is based on appraisals completed by MAI appraisers and General Certified Appraisers.
Therefore, it is requested that this Honorable Body declare the parcel to be “surplus” and authorize the conveyance of the property.
The requesting departments respectfully request that this matter be referred to Asset Management Committee for further discussion and consideration.
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