Title/Name/Summary
9401 159th Street - Revised Purchase and Sale Contract
History
The property at 9401 159th Street is the former home to a BP gas station. The property has been vacant for many years and has fallen into disrepair. The Village has expended funds providing property maintenance including grass cutting and weed removal.
The Village has been negotiating with the property owner for many months. Negotiations stalled and staff was authorized to use eminent domain to acquire the property. Fortunately, the Village and the owner of the property were able to come to terms on the purchase of the property. The purpose for purchasing the property will be to help foster economic development and redevelopment of the property. In addition, the acquisition of this property will provide necessary right-of-way for intersection improvements at 94th Avenue and 159th Street.
On April 6, 2026, the Village Board approved a purchase and sale contract for the property at 9401 159th Street. The property owners have obtained a No Further Remediation Letter (NFR) from the IEPA. Out of an abundance of caution and considering the site was previously a gas station, the Village would like the ability to do a Phase II ESA which includes subsurface investigation and testing.
The Village and the seller have come to revised terms that identify a material change from the previous purchase and sale contract. As such the purchase and sale contract is being revised to include language regarding a Phase II ESA. The seller has requested that in return for allowing the additional subsurface assessment the Village provide a deposit of $50,000. The parties have agreed that the due diligence will be divided into two aspects. (1) Title Search Aspect. If the Village decides that the owner can’t deliver marketable title, the $50,000 will be returned to the Village. If the title search finds no title defects, then the parties move on to the (2) Environmental Aspect. If the Village fails to...
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