Kane County may spend big money on Montgomery Ward building

Kane County Board members will take a vote next week on whether or not to purchase the old Montgomery Ward building that houses the circuit court clerk's offices. The county has long desired ownership of the building, on Randall Road in St. Charles, but it has never been able to agree to a purchase price. That's resulted in mounting tension between the county and the owners, New York-based Rockward Associates, who previously told the county to vacate the building by year's end.

Even though money had been set aside toward a possible purchase, the original asking price of about $13 million was out of the county's range. Some county officials previously said a price in the $5 million range was more realistic. The available money set aside is now at about $8.4 million, according to financial records.

That money, however, cannot solve the county's budget woes if a deal to buy the building isn't completed, County Finance Director Cheryl Pattelli said. The county's enterprise general fund contained about $13.4 million. The county's financial policies say money in that account can only be used for capital projects. When questions arose recently about possibly using the money to help the county's budget, county board members showed there simply weren't enough votes to change the policies regarding the fund.

The value of the account is now closer to $12.4 million since the county has spent $1 million to help the Kane County Forest Preserve District purchase the Fox Valley Ice Area.

County financial policy also requires at least $4 million to remain in the fund at all times. That leaves $8.4 million of buying power for the county in its quest for the Montgomery Ward property. Pattelli said she's not sure exactly how much of that $8.4 million has been earmarked to purchase the building. Taxpayers will find out next week when the county board votes on the purchase.

Circuit Court Clerk Deb Seyller was unavailable for comment.