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Shorewood authorizes exclusive listing with Cayton Commercial for 14-acre redevelopment site
Summary
The board approved an exclusive listing agreement with Cayton Commercial to market roughly 14 acres (village and privately owned parcels) at 906 and 908 Cottage Street at $6 per square foot (about $1,800,000) with a 6% commission, the listing to remain in effect through year-end.
Shorewood authorized the village administrator to enter an exclusive listing agreement with Cayton Commercial to market approximately 14 acres that include former village public-works property and adjacent privately owned parcels.
Planning staff said the proposed listing price is $6 per square foot and estimated the village-owned acreage would total just under $1.8 million at that rate; the listing would carry a 6% commission and be valid through the end of the year. Trustees asked how proceeds would be divided among owners if the parcels sold together; staff said the listing price applies to each parcel by square foot and any division of proceeds would be determined at closing.
