Naperville could sell 4 properties to boost budget

Naperville will put four properties on the market that it owns but doesn't have use for to see if the sites can bring in roughly $1 million.

But the largest and most costly of the sites could be kept on hand in case its value rises in the future.

A vacant parcel at 1720 Quincy Ave. that was used as a temporary impound lot could have "strategic value" as the garbage hauling business evolves in the suburbs, former city council member Dick Furstenau said. He encouraged the city to keep the property, which has been appraised at $945,000, on hand for a few more years to see what happens - and to see if it can be sold for more later.

Some council members agreed it might be smart to hold on to the land. But the site will be listed anyway after a unanimous vote giving city employees the authority to do so.

Under state statute, the city can sell any property declared "surplus" for no less than 80 percent of its appraised value. Council members can choose to turn down all bids, even if they're higher than 80 percent of the appraised price.

"There's no harm in going through the bids because we can reject all bids, especially in light of the strategic use this property could have," Bill Novack, director of transportation, engineering and development, said about the Quincy Avenue land.

The Quincy Avenue site, at 5 acres, is the largest of the properties the city is putting up for sale. Others are a 0.23-acre former well site at the southwest corner of River Road and Crabapple Court appraised at $125,000; 0.42 acres of vacant right-of-way at 635 W. 4th Ave. adjacent the Columbia Street bridge appraised at $145,000; and a quarter-acre vacant residential lot at 3740 Celeste Lane in the Rosehill Farm subdivision appraised at $150,000.

The idea of selling the land for a revenue boost came up during budget discussions last fall. The council cut $4.3 million in projects and $1.8 million in other spending, raised garbage fees and electric rates and created a home-rule sales tax to make ends meet while beginning to pay down debt and build back reserves.