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PROPOSED NO CASH BID REQUEST
Requestor: Rick Reinbold, Village President, Village of Richton Park
Request: Approval of No Cash Bid Request
Location: Village of Richton Park
Volume and Property Index Number:
180, 31-33-200-038-0000; 180, 31-33-200-040-0000; 180, 31-33-200-042-0000.
Summary: On behalf of the Village Board of Richton Park, I am pleased to submit this application to Cook County for the 2023-24 No Cash Bid Program. We are submitting a request to acquire the three (3) properties that comprise the Lakewood Plaza commercial development site in the Village. Our request consists of three (3) PINs, listed below:
All properties are presently owned by Lakewood Partners. Currently PIN 31-33-200-038-000 is a 0.4 acre, unimproved lot. PIN 31-33-200-040-0000 is a 3.9 acre site that contains the Lakewood Plaza commercial strip center. The strip center is a 21,345 square foot building that has four (4) active commercial uses within its nine (9) commercial slots. All users are tenants of Lakewood Partners. Those uses are: 1) Bea's Kitchen and Kocktails restaurant; 2) Candy's Place Bar and Grill; 3) Village Cleaners, and; 4) Ivy Hue Dance Studio. PIN 31-33-200-042-0000 is a 9.9 acre unimproved lot. Together the three (3) properties cover 14.2 acres of land. The properties are zoned C-1 Community Commercial District in the Richton Park Zoning Ordinance.
In 2015 the Village of Richton Park entered into a Redevelopment Agreement with Mack Industries (later known as Lakewood Partners) to convey the three (3) parcels to the developer in exchange for future development of the site. The agreement called for the developer to upgrade the existing Lakewood Plaza building, subdivide the parcels, pursue and construct new outlot commercial development, and pursue and construct residential development on the remaining property, in a phased process. None of that has occurred on the PINs in question. In 2021 the Village initiated a default complaint on the Redevelo...
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