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Burr Ridge board directs administrator to accept LOI to sell Village Hall site for proposed daycare
Summary
The board voted 6‑0 to direct the village administrator to accept a nonbinding letter of intent from 814 Acquisitions for $2.3 million to buy two parcels of Village Hall (1.87 acres) for a daycare; the Veterans Memorial parcel would remain with the village and the LOI allows 120 days for due diligence and zoning entitlement.
The Burr Ridge mayor and board on Sept. 22 voted to direct the village administrator to accept a nonbinding letter of intent (LOI) from 814 Acquisitions proposing to buy the two northern parcels containing Village Hall for $2,300,000 to develop an early childhood daycare.
Evan, the village administrator, told the board the LOI (dated Sept. 10) would exclude the Veterans Memorial parcel and cover roughly 1.87 acres where the Village Hall building sits. The village would net an estimated $2,185,000 after a customary 5% brokerage fee; Evan said additional permit, utility and subdivision…
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