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Cook City Council tables decision on bank building purchase pending inspection
Summary
At a Dec. 31 special meeting, Cook City Council voted to table consideration of buying a bank building after members raised concerns about management, flood mitigation and renovation costs; the council asked for a structural inspection and to explore grants.
Mayor Daniel Manick called a special meeting of the Cook City Council on Dec. 31, 2025, where the council agreed to delay action on purchasing the former bank building after members raised questions about costs and long‑term management.
The council discussed a proposal, introduced by Mayor Daniel Manick, that Park State Bank was offering the city a first opportunity to buy the building and that, according to a conversation with Kirt Thompson of the Northeast Entrepreneur Fund, the city could assume the existing loan, which would amortize in 2034. Manick said the upstairs space could be renovated into apartments and the city could later sell the property for a profit.
Why it matters: Councilors said the proposal could affect city finances and administration if the municipality became a landlord or if renovation costs were high. Councilor Jody Bixby said she did not feel the city should own residential rental property and asked who would manage any apartments. Councilor Jess Scofield raised questions about whether the building’s HVAC would support an upper unit and whether flood mitigation work had been completed; Deputy Clerk/Treasurer Dawn Kehoe said she believes only remodeling was done after the flood and that specific mitigation records would need to be checked.
Councilor Ron Bushbaum asked whether the loan would be transferable if the city later sold the building; Mayor Manick said the loan is transferable and noted there was no fixed deadline for the city to decide but expressed concern about leaving the property vacant. Given lingering questions about structural condition and renovation costs, Bushbaum moved to table the matter and recommended that engineering firm Bolton & Menk inspect the property and sign off on any structural deviations. Councilor Liza Root seconded the motion; Mayor Manick said he would contact Bolton & Menk and IRRR to look for potential renovation grants. The motion carried.
Next steps: The council has directed outreach to Bolton & Menk for a structural inspection and will investigate grant opportunities before returning the purchase proposal to the agenda.
