Bank, fast-food place planned for Carpentersville parcel
Another bank and fast-food restaurant soon could join the landscape along Randall Road, since Carpentersville trustees approved changes to an annexation agreement for a property at Binnie and Randall roads.
Though an agreement between the village and Huntley-based Centerville Properties prohibits uses that do not generate sales tax -- such as banks and medical buildings -- the village Tuesday made room for a Chase Bank to open.
An Arby's restaurant also is awaiting approval.
"We thought we would have no problem bringing in retail to Randall Road," said Craig Krandel, in-house counsel for Centerville Properties. "We need the Chase Bank here in order for us to continue to develop the property."
But trustees said they did not want another bank since there already are three in the vicinity.
"We are getting another anchor bank," Trustee Paul Humpfer said. "We can only collect property tax, not sales taxes or home rule taxes. I was hoping to see more retail development on what is basically prime land."
But Village President Bill Sarto said allowing the bank could be the only way to get an ailing development going.
"I want to see some sales tax generated from available space on Randall Road," Sarto said. "But sometimes you have to give a little to hit something. This is one of those situations."
In 2000, Centerville Properties annexed about 7.5 acres at the northeast corner of Binnie and Randall roads, where a Walgreens recently opened.
The developer then acquired another 5.65 acres, known as the Wolters Property, which will be used for storm water detention, Village Manager Craig Anderson said.
The village has not yet annexed that property.
Flooding in the area had created problems for the developer, who called the site a difficult piece to develop and has cost four or five times more than initially estimated.
"With the lack there of retail uses, we had trouble getting things in the area," Krandel said. "The bank solves part of it."
The amendment now will go to the village's planning and zoning commission before seeking the village board's final approval.