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Family Square property listed for sale; village staff say CBRE marketing is underway
Summary
CBRE listed the Family Square property on March 17 on behalf of Green State Credit Union; village staff said brokers have sent the listing to multiple developers and the bank will set a schedule for offers. Trustees asked staff to engage with potential buyers so the village is prepared if offers land.
Trustees were told on March 17 that the Family Square (formerly Family Dollar / commercial) property has been placed on the market with CBRE as the listing broker. Village Manager (as recorded) told the board the listing went live that day and that CBRE had already distributed information to about 20 developers and additional contacts from the bank.
Why it matters: Family Square sits in Lisle’s downtown planning area and has been the subject of previous redevelopment discussions. The village’s downtown plan and zoning will shape what a new owner can build by right; interested developers may contact village staff with conceptual proposals before submitting any offers.
Village Manager’s office said the credit union owner and CBRE are working on a timetable for receiving offers; staff expects development teams will contact the village to discuss the downtown master plan, entitlements and site constraints. Trustees asked staff to proactively prepare a short list of zoning expectations and to be ready to meet with interested parties so village feedback is timely and consistent.
No board action was recorded. Staff said it will follow up with CBRE and Green State Credit Union to get the listing timeline and will advise the board when developers express serious interest.
