What Mount Prospect residents want done with downtown Chase building
Green space, senior housing and an athletic facility were some of the suggestions floated Tuesday when Mount Prospect leaders asked the public what they should do with the former Chase Bank property downtown.
The village is buying the vacant six-story office building at 111 E. Busse Ave. for $5 million and hopes to have the property under control within the next couple weeks, Village Manager Michael Cassady said.
During Tuesday’s public meeting at village hall, Community Development Director Jason Shallcross said village could issue a request for redevelopment proposals from builders by March 28.
Cassady said time is of the essence, since the Prospect and Main TIF district that includes the site expires in 2039. A TIF district is an economic incentive tool that freezes property taxes within the district's boundaries and places any additional tax revenue created through new development in a special village account to help pay for improvements within the area.
“Having that TIF tool with as many years as possible is critical,” Cassady said.
Resident Mitch Kenoe, a father of school-age children, suggested a mixed-use athletic center for the site. He said it could attract users to restaurants downtown.
Kathleen Schalk suggested senior housing, saying older residents moving out their longtime homes would prefer to stay in Mount Prospect if possible.
Several residents favored open space. Among them was Frank Styzek, who suggested demolishing the bank building and replacing it with a park.
“It’s a lot of brick and mortar (downtown),” Styzek said. “You don’t see much green stuff. Where's our current outdoor gathering place downtown when we have concerts? It's a makeshift green area outside our (village hall). That’s good, but it’s not great.”
Village trustees presiding over Tuesday’s workshop also weighed in.
“We're looking for something to be extremely unique,” Trustee Vince Dante said. “We don't need to follow suit with Arlington Heights or Palatine or Des Plaines.”
Trustee William Grossi said parking needs to be incorporated in the plan as well.
“Right now, individuals have a multitude of places to park here, but they don't want to use them, so they have been using the empty Chase lot,” he said.