How land swap could prompt development near Libertyville's downtown Metra station
A former industrial property idle for decades near the Metra commuter station in downtown Libertyville again is being considered for a residential development.
As with previous, unrelated proposals that didn't advance, the site's would-be buyer wants to exchange land about two acres northwest of the train station for a similar-sized piece of village-owned property to the south and west.
The village board on Tuesday will consider the exchange and an agreement outlining the terms with Focus Acquisition Company LLC. The board meets at 8 p.m. at village hall, 118 W. Cook Ave. A public hearing will be held before a vote is taken.
Approval would allow the company to proceed with the village review process for a proposed 250-unit apartment complex and three single-family lots along Lake Street.
"This gives Focus the ability to apply for a planned development that includes Trimm property and portions of the village property," said John Spoden, Libertyville's community development director.
The village's 96,017-square-foot site - about 2.2 acres - is mostly a commuter parking lot and some open space. That parking would be relocated to the approximately 2 acres received in the swap.
Focus is the contract purchaser of about 7 acres owned by the Newton Instrument Company of North Carolina. The site once was occupied by Trimm Inc., a manufacturing plant that closed and relocated in 2003 and the building demolished.
While strategically located, the potential of the property for another use has been elusive because of soil contamination. The village perennially lists the property as a redevelopment priority.
A 2006 settlement agreement allows Newton to build as many as 130 condos or townhouses on the land. Substantive plans have come and gone, in part because of the remediation needed to allow homes to be built on the site.
The third and most recent plan was presented in summer 2017 but fizzled in late 2019.
"They went as far as preliminary review and for one reason or another the developer decided not to proceed," Spoden said.
Focus is a Chicago-based developer and general contractor that in recent years has built hundreds of luxury apartments in Vernon Hills.
The company developed and then sold The Atworth at Mellody Farm and recently held a grand opening for The Domaine at Hawthorn Row, a 311-unit complex considered a key element in the redevelopment of Hawthorn mall. Another 250 apartments are planned.
Focus inked a purchase agreement with Newton Instrument for the Libertyville parcel last December.
According to the exchange and development agreement, Focus would build reconfigured commuter parking and develop a plan to remediate the contamination, as well as any found on the swapped parcel.
Initial information shows 20% of the 250-unit rental complex would be built as "attainable" housing units.