Round Lake Beach OKs sale of outlot at Rollins Road and Civic Center Way for up to $750,000

The Round Lake Beach Village Council voted Jan. 27 to authorize the sale of an outlot at the northwest corner of Rollins Road and Civic Center Way to private purchasers, approving an ordinance that lists a purchase price of $750,000 with a mechanism to credit certain site remediation or retention-pond relocation costs and a guaranteed minimum price of $150,000.

Economic Development Director Rivera outlined the sale to the board and introduced two representatives of the prospective purchasers, identified only as Andy and Brad in the meeting. Rivera said the village acquired the parcel several years ago and had planned commercial development at the site.

"The purchase price will be $750,000 in the ordinance. There is a provision for crediting some of that purchase price, because the retention pond probably has to be mitigated or moved," Rivera said. "If they can show the cost associated with moving it, that's fine. But it would not be any less than $150,000."

Rivera told the council that the project would complement other commercial activity in the area and that village counsel Scott Puma helped prepare the sale documents. Trustees moved and seconded the ordinance; the roll call vote carried.

Mayor Nicholls said the project would be "great for our community" if completed; no conditions, contingencies or detailed engineering schedules were specified in the ordinance as presented at the meeting. Rivera noted that credits against the purchase price for retention-pond mitigation would be applied if developers demonstrate the mitigation costs, but the ordinance as adopted sets a $150,000 minimum net sale price.

The purchasers' identities beyond first names were not included in the ordinance text presented at the meeting. Staff said more detailed engineering, permitting and escrow steps would be handled in the sale contract and subsequent development review.