Story posted Friday, January 22, 2010
Sims Buy Just The Start?
City Plans To Move Forward With Land Grabs, Ellinwood Build Up
By TODD WESSELL Journal & Topics Editor
Des Plaines City Council's decision Tuesday to purchase the former downtown Sims Bowl site is part of a two-year plan to buy adjoining property that will then be sold for private development, according to Mike Conlan, the city's director of Community & Economic Development.
The city has talked to three potential developers of the property with indications that a mixed-use project could be built on the land located on the south side of Ellinwood street east of the Midwest Bank building and Pearson Street.
Aldermen Tuesday voted 5 to 3 to purchase the Sims Bowl site, 1555-1563 Ellinwood St., for a total price of $862,500. Once the city takes over ownership of the property, the former bowling alley, tavern and restaurant structure will be razed and the land converted into a parking lot at a cost that could reach $100,000. Commuters will likely be charged a small fee to park there. After that, the city plans to move forward with acquiring parcels east of Sims along Ellinwood with the goal of obtaining enough property to attract a developer.
The most mentioned future use of that land is to build a mixed-use development that calls for commercial and retail businesses on the ground floor and residential on upper levels.
The Journal & Topics Newspapers on Dec. 11, 2009 published an exclusive front-page story on the city's intention to by the Sims property, in part, because officials believed the asking price was a good deal. The Caparelli family, which had owned Sims since 1955, could not continue to make mortgage payments on the property resulting in Midwest Bank's take over in early June. Around three years ago, the property had a $4 million asking price. The city plans to borrow money and use proceeds from its downtown Tax Increment Financing District account to pay for the purchase.
Aldermen voting against Sims purchase were Matt Bogusz (3d), Rosemary Argus (7th), and Dan Wilson (7th). Some critics have said the city should not make such an expensive purchase during tough economic times when 37 city positions were not funded for 2010.
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