Title/Name/Summary
Resolution Authorizing the Acquisition of Real Estate - 17171 Wolf Road - Former El Cortez Property
History
In December 2023, the current property owner OF 17171 Wolf Road (former El Cortez) purchased the property from a Cook County Annual Tax Sale and subsequently contacted Village staff regarding plans to improve the property and return it to a viable commercial use.
The owner was informed the entire property is within a Regulatory Floodway with requirements that need to be met at the federal, state, and local levels in regard to the level of investment that can be made to the structure. Staff worked with the Illinois Environmental Protection Agency (IEPA) regarding eligible costs, procedures to follow, and forms to be completed.
The significant level of investment to make the building suitable for occupancy is deemed a "substantial improvement", which includes the requirement to make flood-resistant improvements to the existing building to protect it from future storm events up to the Flood Protection Elevation (FPE) which is 2' above the Base Flood Elevation (BFE), identified by a Flood Insurance Rate Map (FIRM), prepared by the Federal Emergency Management Agency (FEMA).
On September 2, 2025, the subject site was included in the discussion of case 2025-0702, including the annexation and flood mitigation plans for the surrounding south Wolf Road area.
The owner of the property and the Village have been unable to come to terms on the purchase of the property. As a result, on September 15, 2025, the Village Board passed an ordinance granting the ability to utilize eminent domain to acquire the property.
Since that time the Village continued to negotiate with the owner for the purchase of the property. The Village and the property owner have come to terms on the purchase of the property.
The Village has the opportunity to purchase the property for its appraised value, $290,000. After acquisition, the Village will return the site to its native condition and will make stormwater enhancements to the surrounding area. The resolution authorizing the acquisition of real estate is now before the Committee of the Whole for consideration.
Financial Impact
The Village has the opportunity to purchase the subject property for its appraised value, $290,000.
Recommended Action/Motion
I move to recommend to the Village Board to adopt Resolution entitled, A RESOLUTION AUTHORIZING THE ACQUISITION OF REAL ESTATE