Burr Ridge board authorizes agreement to pursue sale of Village Hall to Goddard for $2.7 million

The Burr Ridge Mayor and Board of Trustees on Feb. 23 voted to authorize entering a purchase-and-sale agreement (PSA) with Goddard Real Estate to pursue sale of the Village Hall property.

Evan, a village staff member, told the board the agreement sets a purchase price of $2,700,000 with no brokerage fee and earnest money of $135,000 to be deposited into escrow within five business days. He said the inspection period is 120 days with two additional 30-day extension options and that the buyer intends to seek zoning entitlements to operate an early-childhood care facility on the site. "The agreement also states that the village is formally aware of the buyer's intent to seek zoning entitlements to operate an early childhood care facility, but nothing in the agreement is deemed to obligate us as a village to provide set entitlements," Evan said.

Craig Castle of Cushman & Wakefield, who identified himself as advising Goddard Real Estate, told the board he runs the firm's education business and is advising the buyer on the transaction. He confirmed Goddard's intent to pursue zoning for a daycare and said the buyer remains subject to the village's review process.

Mayor Grasso and staff emphasized the Village will not sell the Veterans Memorial or adjacent parkland; Evan said the buyer will convey easements allowing continued access for the memorial, overflow evening parking and the entryway sign. Evan also told trustees the PSA does not obligate the Village to pre-approve zoning: "We can't promise zoning in advance," he said.

Trustees asked about the village's ability to terminate the agreement if related construction or budget estimates for a new Village Hall rise substantially. Evan said the PSA includes seller-remedy provisions and that the Village could terminate for buyer default, but that backing out could carry six-figure third-party costs such as architectural and planning fees.

The board approved the motion to authorize the sale process by roll call vote reported as 6-0. The authorization allows the Village to enter into the PSA and proceed with the contract terms; the sale is not final until closing, and any zoning approvals would be decided through the standard public entitlement process.

Next steps: staff said they will continue coordinating contract details and will return with any required hearings or presentations on zoning and construction estimates as those items advance.