Carol Stream library, nursing home agree on property price
Officials from the Carol Stream Public Library and a nursing home company have agreed on a purchase price for the library’s vacant 7.5-acre property, though a final deal hasn’t been struck.
Board President Mike Wade said Wednesday the library has accepted the company’s latest offer to purchase the land for $1.35 million — which is more than the company’s initial offer of $1.225 million.
The land at 2N540 Kuhn Road was purchased by the library in 2003 with intentions of constructing a new facility there, but voters rejected those plans in three separate referendums.
Wade, a longtime opponent of a new library facility, suggested last year the property be put on the market.
During a closed session board meeting in February, Wade was instructed by fellow trustees to accept any offer above a certain amount. He did not publicly disclose that number.
The list price for the land is $1.8 million.
However, Wade said there’s been no formal contract made by the potential buyer, which is also looking at other vacant properties on which to build a nursing home facility. He said if the company decides it wants the library’s property, then the two sides would sign a contract, which would be subject to the library board’s approval.
Whether the property is actually sold could depend on which library board — if any — gets the opportunity to take a vote.
The current board is led by Wade and a majority of trustees that have formerly expressed opposition to the construction of a new library. But after last week’s elections, a new board majority will be seated in May that could decide to hold onto the property.
Wade’s five-person Support Your Library slate was defeated by the Support the Library slate that includes incumbent board Vice President Jim Bailey, who opposed putting the property on the market.
Bailey has said the new board will look at whether keeping the property on the market “continues to make sense.”
Were there to be a contract ready for the board’s consideration, Wade said the current board could call a special meeting up until the time the new board takes office May 15. The current board held its last regularly scheduled monthly meeting Wednesday.
Before a sale is finalized, the library would be required to give the village, its corporate authority, the first right to buy or lease the land.
Wade said in April 12 Daily Herald article that he didn’t expect a sale to occur before the new board is seated. He did say a sale was “a good possibility, but we have not been handed a signed contract.”