Long-vacant land near Mundelein's Oak Creek Plaza would be redeveloped for new retail stores under a deal being negotiated with the shopping center's owner.
A sales-tax sharing agreement would be the centerpiece of the proposal, but the terms haven't been finalized, Village Administrator John Lobaito said.
Contact information ( * required )
"All that is up in the air," Lobaito told the Daily Herald.
The land that's being targeted for development is on the south side of Route 60 east of Route 45, between the shopping center and a Speedway gas station. It's owned by Ron Boorstein, who also owns the adjoining Oak Creek Plaza.
The site once was home to a self-storage complex, but those buildings were torn down in the 1980s, Lobaito said.
A concrete pad that's been taken over by weeds and brush remains. Chains and warning signs aim to keep people off the property.
As part of the new plan, a portion of the nearby Indian Creek waterway would be moved slightly to the west, closer to a Taco Bell and Long John Silver's restaurant building, Lobaito said. That would create more room for a new retail building on Boorstein's land.
Moving the creek is possible but would be costly, Lobaito said.
The new building would face east. It would be located not far from a recently shuttered Menards store. It could have 25,000 square feet of space and house several tenants, Lobaito said.
Walmart is planning to build a new store on the land where the Menards operated.
"It's a completely separate deal from Walmart," Lobaito said of the proposal being worked out with Boorstein.
The Mundelein village board could approve an economic incentive agreement or a term sheet for such an agreement with Boorstein when it meets Dec. 16. That session is set for 7 p.m. at the main fire station, 1000 N. Midlothian Road.