City Buys Apartment Buildings Near Metra Station
Oak Forest aldermen approved the purchase of two apartment buildings for a total of more than $1.2 million. The city hopes the step is the first of many to reestablish interest in the area near the Oak Forest Metra station.
Oak Forest has two new apartment buildings to call its own after a move by aldermen Jan. 22.
Aldermen voted to purchase a 16-unit building at 15659 S. Lamon Avenue and a 24-unit building at 4820 W. 157th Street for $475,000 and $744,000, respectively.
The move is the first in a plan to reestablish interest in Oak Forest, said Community Development Director Adam Dotson.
“Today, is the day that we've made the decision, or we will make a decision, whether to go one way or another, is to tell the investment community that we are looking for reinvestment,” Dotson said. “The only way we're going to do that is that the city is going to start taking steps to show the investment community that we want change to happen, so we are successful in the future.”
The California-style apartment buildings were purchased in the hopes that businesses and families will flock to the area in the future, Dotson said.
“These two particular properties play a key role in what we're trying to get done near the train station area,” Dotson said. “That is, attract residents that need this type of transportation, as well as the quality housing that we're looking for to come here in the future.”
Alderman Rich Simon said that he was happy to see the purchases go through, adding that he has been waiting for some time for the city to make this move.
“I've been looking forward to starting programs like this for a lot of years,” Simon said. “This is a good start. … It's a good start and I think the residents in Oak Forest can look forward to us doing a lot more like this as time goes on.”