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Westmont board approves purchase of Bales Lumber site to assemble downtown redevelopment parcel
Summary
The Westmont Village Board voted March 19 to buy the Bales Lumber property at 20 East Quincy Street as part of a plan to assemble parcels adjacent to Westmont Center and attract new downtown development; the measure passed after public comment and staff presentation on projected tax benefits.
The Westmont Village Board voted March 19 to approve an ordinance authorizing purchase of the Bales Lumber property at 20 East Quincy Street, a transaction village officials said will help assemble land adjacent to the Westmont Center and support future downtown redevelopment.
Assistant Manager Parker, presenting the purchase proposal, said the property was appraised at the purchase price and that the closing is expected before Jan. 1, 2027. Parker said $3,000,000 for property purchases is included in the village's appropriations ordinance, and that the village's plan is to eventually sell assembled parcels at market value to private developers to generate additional tax revenue for local governments.
'The plan is to connect that Bales property with the Westmont Center,' Parker said, describing the purchase as a strategic step to 'bring additional tax revenue into the village' and support downtown density and foot traffic.
Members of the Bales family accepted a proclamation honoring the business's more than six decades of service. Stanley Bales Jr., who said he expects the store to remain open through the busy season, told trustees he and his family appreciated their customers and the village's support as they plan an eventual retirement from the business.
Tammy Beck, owner of TLD Design Center and Gallery at 26 East Quincy Street, thanked the board and asked staff and the chamber to help find space for arts businesses that may be displaced; she said she would welcome assistance to keep her gallery in Westmont.
Economic-development consultant Brian Krzyzewski told trustees that past downtown plans projected substantial increases in assessed value if parcels were redeveloped and said successful projects could add hundreds of thousands of dollars in annual tax revenue. Krzyzewski and staff said the village's estimate for potential net new annual property taxes from redevelopment in these parcels could be in the hundreds of thousands, after a development and TIF implementation period.
Trustee Plowman moved the motion to approve; Trustee Scales seconded. The ordinance passed by roll call (majority yes, Trustee Perrelli recorded a no vote). The board did not require additional amendments to the purchase agreement during the meeting.
Next steps: staff will complete due diligence (including property inspections and borings), finalize closing details, and continue public engagement as development planning proceeds.
