University Park trustees authorize sale of 505 University Parkway for proposed Dunkin’ Donuts

The Village of University Park Board of Trustees voted Dec. 2 to authorize the sale of 505 University Parkway to a prospective Dunkin’ Donuts franchise, contingent on final brand approval by Dunkin’.

Trustee Thompson moved to approve the sale and Trustee Lewis seconded the motion. A village staff member told trustees the prospective buyer had proposed a purchase price of $100,000 and that corporate approval from Dunkin’ had not yet been received. After a roll-call vote the board approved the authorization; the clerk indicated the resolution number will be assigned and recorded by staff.

The authorization does not itself transfer title; the board’s action authorizes the village to move forward with a sale conditioned on the franchisor’s approval. Trustees did not debate alternate buyers or other terms on the record during the meeting.

The village manager (staff) told the board that, per the earlier meeting direction, staff had signed an agreement to proceed if Dunkin’ Donuts and the franchisee finalized approval. The staff member said the sale price mentioned by the prospective purchaser was $100,000.

Next steps: staff will finalize paperwork and provide the formal resolution number and any required closing documents after corporate approval by Dunkin’ Donuts is confirmed.