Several credible sources have told the Review that the Roos building was appraised for $1.3 million under industrial zoning and $2.3 million under residential zoning.
The village first received the appraisals Thursday, August 18, but denied a Freedom of Information Act request by the Review for copies.
The Review still has not actually seen the appraisals in question.
The Village Council and the Park District Board of Commissioners plan to hold a closed session meeting on September 12 to discuss the appraisals and their next steps in potentially acquiring the property.
The $2,000 cost of the appraisals was split between the Park District and the Village.
The asking price previously given to the village by developer Patrick Wangler was $3.75 million.
The property’s designation as a Planned Unit Development (PUD), which gives it its residential zoning status, expires on September 27.
Mayor Anthony Calderone recently told the Review that the Village Council would not vote on whether to extend the PUD, as had previously been reported.
Calderone said that the preferred option was still for the park district to purchase the property alone, but if the costs proved too high, the village would consider joining in. As a last resort, he said, School District 91 could be asked to join as well.
This information came to the Review’s attention after press time for the August 31 paper, but a full report will appear in the September 7 issue.
