Wheeling among those bidding for Wickes property

The village of Wheeling is trying to take the development of the former Wickes site into its own hands.

The 11-acre site went up for auction on Monday, and the village was one of the bidders. Village manager Mark Rooney said the auction isn't finalized yet because the Wickes property, at 351 W. Dundee Road, is still in bankruptcy court.

"The bankruptcy court is looking at all the bidder's proposals," he said. "They look not just at the highest dollar amount; it's the highest most-qualified."

Rooney would not disclose how many bidders were present Monday but said there were a few developers interested in the site.

Alain LeCoque, the broker for the site with Colliers Bennett & Kahnweiler, said he wouldn't be able to talk about the results until later this week at the earliest.

The village board, at a special meeting Saturday, approved putting in a bid. Rooney said the trustees gave him a maximum amount he could bid but couldn't disclose that number.

"It looks very good for the village of Wheeling," Acting Village President Dean Argiris said. "We felt it was a good opportunity right now to get it at a real favorable price."

The board believes the Wickes location is vital to Wheeling's development of its downtown on Dundee Road, hinged on the train station nearby.

"It's an important piece of property in the Town Center," Rooney said. "We don't want to see it just languish like the Kmart has if it gets in the hands of the wrong developer."

The Kmart site has been vacant for seven to eight years, Argiris said, as several plans have fallen through.

Argiris said he'd like to include the park district in discussions for what to do with the Wickes property if the village is chosen in the auction.

The park district had looked into buying the property on its own, stirring some controversy earlier in the year. The district reportedly did not put in a bid Monday.

Argiris said other developers, such as Hamilton Partners, have brought ideas to the village board about the Wickes property in past years, but the ideas didn't necessarily mesh with the board's visions for the area.

"It's a great opportunity to put a nice development there," he said. "We don't need a site with all condominiums. Maybe we'll have some senior housing, some affordable housing and luxury rentals along with commercials. The market's going to dictate that."

The site will likely be some sort of high-density housing with commercial property closer to Dundee Road.

If the village is picked to purchase the site, the board will vote on the prospect Monday.

Argiris said the money will come from reserve funds.