Vacant property at Harlem and Madison in Forest Park sold

Site of former gas station sold to Chicago-based developer

Friday, March 1st, 2013 12:48 PM

Updated: Tuesday, March 5th, 2013 10:00 PM

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By Jean Lotus

Editor

Jay Javors, a real estate investor with ties to the area, has purchased the vacant lot at 7209 Madison St., the northwest corner of Harlem and Madison which formerly housed a gas station and food mart.

The property changed hands on Dec. 11, 2012, according to property records from the Cook County Recorder of Deeds. Forest Park Holdings LLC, which lists Javors as its manager, bought the property for $1.15 million from a real estate trust.

On Dec. 20, 2012, Forest Park Holdings obtained a $900,000 mortgage from a Sacramento, Calif.-based private trust. The land sale and mortgage were recorded by the Cook County Recorder of Deeds on Jan. 8.

Javors, a Fenwick High School alumnus and Hinsdale resident, is president of a Chicago-based real estate development company called Midwest Property Group Ltd. The company has developed several sites for Walgreens, including the one at Madison Street and Oak Park Avenue in Oak Park, where the drug store maintained the building's 1922 historic façade.

He was called "an exceptional developer" in 2010 by then-Oak Park Village Manager Tom Barwin, who praised Midwest Property Group for working closely with neighbors and a Madison Street development organization to preserve the building's appearance and install several green features.

The corner parcel in Forest Park is 21,000 square feet, and has been vacant since 2009. As a former gas station site, the property had to have underground tanks removed as part of environmental remediation before it could be sold and redeveloped. It has been used as a parking lot by Rush-Oak Park Hospital and occasionally used by the village of Forest Park for parking during village events like the Holiday Walk.

Javors declined to comment about his plans for the property, saying, "I have nothing to say about that," when contacted by the Review.

Reader Comments

11 Comments - Add Your Comment

Comment Policy

Posted: March 6th, 2013 3:16 PM

Too many renters may be bad, but too many foreclosed properties is even worse. The issue is with the condom mum market is that most of these properties have lost significant value and their mortgages are under water. If you do not have the option to rent your condo unit and want to get out for various reasons, you have no other choice but to foreclose. So pick your poison when discussing rentals in FP, higher insurance rates or lower property values caused by foreclosures.

A LONG TIME FOREST PARK RESIDENT AND CONDO OWNER. from FOREST PARK IL.

Posted: March 6th, 2013 11:40 AM

How true FOREST PARK RESIDENT. Too many renters is bad for several reasons. No it is not smart. We try telling them, they do not listen. New members get elected then let it go to their heads and they refuse to listen and do STUPID --- THINGS! Lets hope SANE , SMART ones will keep our community a great place to live.

Resident from Forest park

Posted: March 3rd, 2013 4:45 PM

Condo,associations are stupid to allow too many rentals in a building. Drives up,the insurance rates for the whole building. Not smart.

A LONG TIME FOREST PARK RESIDENT. from Forest Park IL.

Posted: March 3rd, 2013 2:41 PM

I agree we do not need more rentals, However in many of the condo buildings that allow renting( INCLUDING WHERE I LIVE) more investors are buying, re habbing, then renting condo units.There seems to be more renters in the near western suburbs. For various reasons ( I do not and can not blame them) Many people choose to rent and not buy.

Resident from Forest park

Posted: March 3rd, 2013 8:45 AM

The last thing Forest Park needs are more rental units! Also, not sure that a cvs or food store would have enough space to have any parking! I'm sure the developer has something in mind though.

Duke Bradford. from Forest Park Il.

Posted: March 2nd, 2013 1:08 PM

There are GREAT opportunities for developers( COMMERCIAL and residential) In Forest Park IL. Spread the good word!

A Forest Park Resident. from Forest Park IL.

Posted: March 2nd, 2013 1:01 PM

A NEW CVS , Walgreens, Osco would be great , needed and I feel appreciated here. No use for a casino or strip joint myself. Yes There are some GREAT OLDER Condo buildings on the north side. They I feel would be great converted to apartments or renovated!Loans and special assessments are very difficult on many owners. Younger ones moving to town seem to mostly want to rent . I hope the developer reads these comments and some one sends them to him. Good day.

A LONG TIME Forest Park resident. from Forest Park IL.

Posted: March 2nd, 2013 12:49 PM

It would be great if some business that sold quality reasonably priced groceries would be built there. Also as a GREAT developer. Does he know any fellow developers that wants to PURCHASE a CONDOMINIUM building ( NORTH OF MADISON STREET IN FOREST PARK ) or several units of a condo building?

Bill from Melrose Park South

Posted: March 2nd, 2013 1:34 AM

Oh, doggone, Sten and Dave, you clever boys you. Thanks for your pithy comments on an important entry point to Forest Park that's gone economically fallow over the past four years. Quite sure both your mothers think you're insightful, though I doubt any other adults concerned with the economic health of Forest park share that opinion.

Dave from Oak Park

Posted: March 1st, 2013 4:15 PM

I hope it's a mixed use development with condos, a casino, and an Arbys.

Sten Henkhauser from Cicero

Posted: March 1st, 2013 3:34 PM

I know it is too much to hope for, but ideally that site should be a Harold's Chicken Shack.

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