CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Pass the ordinance approving a purchase and sale agreement between the City of Naperville and LTF Real Estate Company for the sale of 12.55 acres of City property located at the southeast corner of Route 59 and 103rd Street to LTF Real Estate Company for $6,560,000 (requires seven positive votes)
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DEPARTMENT: Transportation, Engineering and Development
SUBMITTED BY: William J. Novack, Director/City Engineer
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
During the rapid growth era of the City of Naperville in the 1980's the City purchased forty acres of land at the southeast corner of Route 59 and 103rd Street. The City believed the property would be needed for utility uses, fire protection and possibly satellite facilities for some operating departments. Over the years the site has been improved with a fire station, an elevated water tank and water reservoir. No satellite facilities were constructed since departments preferred to remain centralized.
In the 2000's Wheatland Township was looking for land for a new road district garage and township office buildings. The City sold two acres of land to the township and today the Wheatland Township Road District and Supervisor work out of the building at the south end of Tower Court just past the water utility facilities. Approximately 22 of the original 40 acres remained vacant for years and are essentially surplus land to the City.
Over the years, several unsolicited offers have been made to the City by buyers interested in purchasing the property, but none that were of interest or value. Recently, however, the City received two worthwhile offers for portions of the City's 22 acres. The first was from Gorman & Company in response to an RFP issued by the City to develop affordable housing at this location. On February 7, 2023, the City entered into a purchase and sale agreement with Gorman & Company to sell and convey 4.65 acres adjacent to the Wheatland Townsh...
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