Clarendon Hills is hoping to see some downtown property it has purchased turned into a mixed-use development.
The Village recently purchased a 0.6-acre site at 104 Walker Avenue for $1.4 million. That space, along with the 2000 purchase of a parcel at adjoining 301 S. Park Avenue for $237,000, combines to make up the property on which officials are hopeful for development.
“The Village is in advanced discussions with a developer for a mixed-use development, anchored by a local restaurant group,” Village Manager Zach Creer said.
He said the Village has had this property in mind as a development opportunity since at least the 2014 Downtown Master Plan.
“Most parcels are difficult to develop in the downtown because they are very small and have different owners,” Creer said. “This was a unique opportunity to join a Village-owned lot on Park Avenue with this parcel at 104 Walker to make a larger development lot.”
Creer said the property at 301 S. Park Avenue likely has appreciated in value to about $400,000 from the $237,000 purchase price. The village spent a total of $1.637 million on the two parcels.
“The village expects to get back its investment in the land from a sale to a developer in short order,” he said.
The “advanced discussions” currently taking place with a developer come after the village entered into a contract with a developer in 2021, only to have that deal fall through. More recently, the Village received plans that were presented to the public in September of 2023, but that also failed to work out.
“By the Village buying the property, the Village believes a deal is much more likely to happen, and that also it will allow the Village to work with a high-quality developer,” Creer said. “There is a significant financial benefit to the overall downtown by adding an additional restaurant and more residential units. It adds to the business atmosphere and provides customers for the downtown core.”
Creer said there also is a large financial benefit to the Village’s Downtown TIF Fund, as the property is assessed at a very low value, and the village is negotiating a high-value development.
“Given the uncertain timelines of letting the market take its course, the Village determined that moving more quickly was economically beneficial, particularly as the TIF ages towards its 23-year lifespan,” he said.
Development of the property offers positive aspects beyond financial, too.
“Right now it’s a wooded swamp, with a cut-through used by school kids and an abandoned house,” Creer said. “This would not be something any community would want in their downtown. And recently, there has been a serious injury on the property and a break-in.”
He said the overall goal of the Downtown TIF and the Downtown Master Plan was to turn the downtown around.
“In 2020, the downtown had a very high vacancy rate, with certain properties vacant for many years,” Creer said. “This year alone the village helped to fill in four long-term vacancies in the downtown as well as create new commercial space on Burlington Avenue in two locations.
“Every day we talk to businesses interested in opening in town, which is an exciting change,” he said. “This property developing will provide substantial resources to the village to address the remaining vacancies in the downtown area.
“The goal now is to add more businesses that draw regionally, keep our long-time businesses and add more smart residential development, targeting empty nesters and young professionals. Currently, there are no options in Clarendon Hills for anyone looking to downsize or move into the community before starting a family. It just so happens those groups are also the most likely to patronize downtown businesses and restaurants.”
Chuck Fieldman is a freelance reporter for Pioneer Press.
