Mundelein moves to acquire shuttered downtown bank building

A vacant bank building in downtown Mundelein that’s been the subject of redevelopment discussions for years is being acquired by the village.

The village board on Monday approved the purchase of the former PNC Bank at 469 N. Seymour Ave. for $445,500.

The land, which is just south of popular businesses on Park Street, eventually will be put on the real estate market. But by buying the site now, village leaders can control who they sell to and the next use of the site.

“(The) village is interested in controlling the key properties in that area, in anticipation of future development opportunities,” Village Administrator Eric Guenther said in an email.

The bank is part of what village officials have called “the bank triangle.” It encompasses about 6 acres east of Seymour Avenue and north of Hawley Street. Other properties there include a former First Midwest Bank, a former water division building and a shuttered Citgo station.

Officials have said they’d like to find a real estate developer looking to create “something really grand” on the site.

An architectural firm has proposed apartment buildings, a parking garage, stores and open space among potential uses.

The board approved the bank acquisition with a 4-1 vote. Trustee Kara Lambert voted against the purchase; Trustee Tony Ugaste was absent.

There was no public discussion of the proposal Monday night.

In a subsequent telephone interview, Lambert said the vote reflects her belief that Mundelein generally shouldn’t purchase property.

rlissau@dailyherald.com