Story posted Wednesday, November 11, 2009
Village To Buy, Develop United Electronics Land
Rosemont took a major step last week to purchase a piece of property it hopes one day will be redeveloped.
Village board members approved securing a $5 million line of credit to buy property where United Electronics has been located for many years at 5321 Pearl St.
The site is situated along the west side of the Tri-State Tollway south of Balmoral Avenue.
According to Mayor Bradley Stephens, Rosemont is buying the property into order to assemble it with some adjoining land in order to make it available for future redevelopment.
Plans call for United to remain operating out of the single-story building on the site for the next few months. The village currently owns a few adjacent building and plans to purchase additional parcels in the future.
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