Glen Ellyn set to close on sale of land at Five Corners intersection
A piece of Glen Ellyn real estate at the Five Corners intersection officially will have a new owner.
Earlier this year, the village board agreed to enter into a contract to sell the high-profile site to a Lombard chiropractor and physical therapist who made an all-cash offer of $625,000. The deal also received the blessing of neighbors who won a lawsuit to block construction of a gas station on the undeveloped land.
The village now expects to close on the sale of the commercial property Wednesday.
"They've done some due diligence, and they're comfortable and ready to move forward," Village Manager Mark Franz said. "This is just the closing. They still have to go through the plan commission public approval process, which hasn't been initiated yet."
Progressive Physical Medicine has shared some conceptual plans for constructing new offices on the 1.35-acre property at the southeast corner of the busy Five Corners intersection of Main, St. Charles and Geneva roads, Franz said. Progressive hasn't yet indicated when it would submit more formal plans for approval.
"We've been real focused on trying to get them everything they need to be able to close, so that's been the focal point," Franz said.
When the property went under contract in February, Progressive intended to construct a single-story building with parking in order to move offices from Lombard to the Glen Ellyn site at 825 N. Main St.
At the time, neighbors who joined an ad hoc committee led by DuPage County Board member Tim Elliott, a former village trustee, expressed support for the development of the site as a physical therapy or chiropractic clinic.
The village put the land back up for sale with a listing price of $650,000 last December.
The village was contractually required to repurchase the empty lot from a gas station developer after Protect Glen Ellyn Inc., a group of neighbors, won a lawsuit against Glen Ellyn and True North Energy to quash the project.
The village originally paid $590,000 to purchase the property in September 2010 from a bankruptcy estate. The village then spent at least $90,000 on demolition, remediation and restoration of the site. In an effort to jump-start redevelopment, a smaller, dilapidated gas station that closed there in 2003 was torn down.
In 2013, the Illinois Environmental Protection Agency issued a "no further remediation" letter, restricting the site to commercial or industrial uses.