Lake Zurich couple wants to lure dining, entertainment to vacant building on Main
For years, Lake Zurich couple Don and Cindy Malin walked by the darkened Bank of America building on Main Street and wished it was being put to use somehow.
"We'd think, 'Oh, it's a shame no one is doing anything with that building,'" Cindy Malin said.
About 18 months ago, the Malins realized they could step up and do something with it. Last week, Lake Zurich officials announced the Malins bought the building at 35 W. Main Street from the previous owners.
Cindy Malin said she and Don are open to renting space to a variety of business owners including restaurants, cafes and bars as well as experience-based destinations such as a community theater, an art studio or an ax-throwing business.
"Our goal is not to run a business ourselves but to provide the right type of venue to help make their business successful," Cindy Malin said.
She said friends and neighbors often bring up how they wish there was more to do in downtown Lake Zurich.
"You can see it in the Starbucks or the Panera, the tables are always filled," she said, citing the village's downtown Sunset Pavillion as another recent sign of success.
Village Manager Roy Witherow said there were several redevelopment plans for the 9,000-square-foot building over the years - including a youth-focused dentistry and a restaurant and brewpub - but developers never got far. Witherow said he is pleased the Malins are motivated to develop the site.
"The village has been partnering with them to make this happen," Witherow said. "I think it could be a catalyst for more development downtown."
Malin said they will likely divide the building between two to four tenants and embark on improving the green space on the lot. But before any of that can happen, the Malins are going to have the roof repaired and address internal issues such as the electrical system.
"It's the boring stuff in the building we need to take care of before we can embark on the fun stuff," Cindy Malin said. "Our goal is a year from now to have really exciting businesses ready and open."