.

City Closer to Sale of 'The Church Parcel'

Following 10 months of negotiations between the city and developer Net3 Real Estate, LLC, the two sides settled on a $270,000 sale of a piece of land known as "the church parcel," located at 5340 W. 159th Street

It's taken a long time to get rolling, but the t finally looks to have a buyer for the city-owned land at 5340 W. 159th Street—also known as “the church parcel.” After nearly a year of negotiations with Net3 Real Estate, LLC., the two sides arrived at a $270,000 deal—but the sale must still be approved by both sides' legal teams, and the state.

“This particular project is up for state review in June,” said Oak Forest Community Development Director Adam Dotson. “This is only part of the process, this is just the contract to purchase.”

The sale was approved by the city council meeting at its April 10, meeting.

Net3 Real Estate is expected to develop the land into a medical facility, while leaving the frontage portion of the land along 159th street open to commercial development, Dotson said.

While it would have been preferential to break ground on the project this month, it just wasn't in the cards, Dotson said.

“I would not foresee for 90 to 120 days, before we would see any ground broken at this particular location,” Dotson said. “With that, this gives them the green-light to move forward and actually go through the process itself.”

Julia April 12, 2012 at 02:21 PM
and what did the City originally pay for this parcel?
Lauren Traut (Editor) April 12, 2012 at 02:41 PM
Great question, Julia. We'll track down the answer. Stay tuned.
Willie April 13, 2012 at 08:15 PM
Is this the property where oak fest is held? Or is it the property that the church sits on? If so is the church going to torn down? If neither of these is the right property then where exactly is it. Willie
Baba Wawa April 13, 2012 at 11:01 PM
Oak Fest is held immediately north of the church on Public Works' property in that fenced in area. The carnival is immediately west of the church.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »