Algonquin accepting proposals to buy, move historic Franke House

Algonquin is accepting proposals for the purchase and refurbishment of a historic downtown home.

To make way for future downtown development, however, the buyer would be required to remove the Franke House from the corner of Route 62 and Harrison Street and relocate it to an entirely new property.

The nearly 4,000-square-foot structure was built in 1911 by Christ Franke, an Algonquin businessman, and has been used for various purposes: a residential space, a decorating and painting business, an art studio and a psychic reading business.

As part of a downtown and tax increment financing plan, the village recently acquired the property at 103 W. Algonquin Road and other nearby lots. Community Development Director Russ Farnum said several other antiquated buildings have been or will be demolished, including two structures - a detached ranch home and a two-story garage - that he called accessories to the Franke House.

The house itself, he said, is structurally sound, in "fairly good condition" and could be saved.

"It's been in such a high-profile location for so long that people quickly identify it as one of our downtown properties," Farnum said. "After a while, these things become iconic for the downtown."

Ideally, the Franke home would be relocated to a property in the village's Old Town District, Farnum said, but other sites will also be considered. The five-bedroom, prairie-style house, he said, is a good example of American Four Square architecture - a popular home design at the turn of the century.

"It hasn't had a lot of additions or remodels," he said. "It's really a very pristine example of that kind of architectural style."

Interested investors are asked to submit a proposal by April 30 detailing a new property, a timeline for relocation, a specific refurbishment plan and the intended use for the house, according to the village's request for proposals. Potential buyers should also submit evidence of past experience and a financial plan.

Village officials will negotiate costs and project plans with the potential buyers, Farnum said. They expect to make a decision by May.

"It's all going to come down to who we feel has the capability to do this project the way we'd like to see it done and who has the best long-term plan that would benefit the village and our historic district," Farnum said. "We're going to choose the best result for the community."