Vote on $11M contract to renovate old bank building in downtown Des Plaines delayed

The construction company in line for an $11 million contract to renovate a historic bank building in downtown Des Plaines is going to have to wait an extra couple of weeks for the deal to be finalized.

Through a public-private partnership, the three-story, marble-sided building at 678 Lee St. will be converted into a restaurant called The Dime. Paul Borg Construction Co. of Chicago presented the lowest of three bids for the much-anticipated renovation, documents indicate.

The $11 million total includes Borg Construction’s $10.3 million bid and about $670,000 to cover any unexpected costs that may arise.

The Des Plaines City Council was scheduled to approve the contract Monday night but put off voting until Aug. 3 because Mayor Andrew Goczkowski and three aldermen were absent. Officials want to give all the aldermen and the mayor a chance to publicly opine on the deal, spokesperson Brad Goodman said.

Officials had budgeted $12 million for the work and were pleased all three bids came in lower than that amount, Goodman said.

“(We are) eager for work to begin on the project,” he said.

The proposed contract covers exterior and interior renovation work at the 99-year-old building, which has been unused since 2019. New windows, plumbing, stairs and fire protection equipment are among the proposed improvements. Original plaster inside the building will be restored, too, documents indicate.

Once approved, work should begin within 10 days.

Des Plaines bought the property in 2024 for $1.9 million. The city council subsequently struck a deal with restaurateur David Villegas’ 10 Scents company to redevelop the site.

The city’s portion of the construction work is expected to take eight months, documents indicate. Once it’s done, Villegas’ team will add kitchen equipment, furniture, fixtures and other restaurant-specific amenities, at a projected $4.5 million cost.

A 2027 opening is planned to coincide with the building’s centennial.

The city will continue owning the building after The Dime opens; 10 Scents will pay rent and be responsible for the property taxes once an occupancy permit is issued. The company eventually will be able to buy the property.

Earlier this month, the city council agreed to support a Cook County tax break for The Dime that could save 10 Scents about $3.5 million over 12 years.