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Board directs village administrator to accept LOI for Village Hall sale; vote 6-0
Summary
The village board voted 6-0 to authorize the village administrator to accept a nonbinding letter of intent from 814 Acquisitions to buy the Village Hall site at 7660 County Line Road (Veterans Memorial parcel excluded); staff said the LOI starts a process that includes zoning review and a 120‑day due‑diligence period if a purchase agreement is executed.
The Burr Ridge village board voted 6-0 on Oct. 13 to direct the village administrator to accept a nonbinding letter of intent from 814 Acquisitions to purchase the two parcels containing Village Hall at 7660 County Line Road, excluding the Veterans Memorial parcel.
Evan, the village administrator, told the board the letter of intent (LOI) proposes a purchase price presented in the discussion as $2,300,000, which after a broker fee of 5% yields estimated net proceeds of $2,185,000 to the village; additional permit and subdivision fees could push net revenue above $2,250,000. Evan said the buyer has indicated the intended use is an early‑childhood daycare, which is a listed special use in the T1 transitional zoning district that covers the site.
The LOI is nonbinding, officials emphasized. Village Attorney Bill said an executed purchase agreement would be needed before the buyer’s 120‑day due‑diligence/inspection period begins; the contract would also specify earnest‑money amounts, financing contingencies and other terms. Evan said the draft LOI calls for 120 days to pursue zoning entitlement and due diligence, then 30 days to close if zoning is approved.
Trustees pressed staff on protections and timing. Trustee Scapa raised design and zoning concerns after reviewing the developer’s renderings, calling for any new building to conform to the T1 district’s residential character rather than a warehouse look. Trustee Anita questioned the proposed $25,000 earnest‑money figure (about 1.08% of the purchase price), saying it seemed low for a months‑long process and suggesting a higher deposit could better protect the village if the deal fell through. Trustee Tony confirmed the LOI contains no exclusivity clause and staff confirmed the village may continue marketing the property and entertain higher offers while the nonbinding LOI is negotiated.
Board members also asked about operational details if the sale proceeds. Evan said the parcel containing the Veterans Memorial and related parking would remain under village ownership; the memorial’s water and electrical services currently run from the Village Hall, and staff described plans to relocate those services across County Line Road if needed. Trustees asked staff to prepare a timeline that aligns the sale and construction of the new village hall so the village would not be left without office space during a transition. Staff estimated design, approvals and construction could put occupancy of a new hall in 2027 if the schedule proceeds as discussed.
After discussion, Mayor Grasso asked for a motion to direct the village administrator to accept the LOI; the motion was made, seconded and adopted by a 6-0 roll call. Evan said the village will post updated information about the Village Hall LOI on the village website the next day and staff will proceed to negotiate contract terms if the LOI is accepted.
The board then adjourned to its next scheduled meeting on Oct. 13, 2025, at 6:30 p.m.
