Schools
District 59 Accepts $5M Bid for Arlington Heights Property
But a board member questions selling the land to a developer who has done so much work with the district in the past.
Arlington Heights, IL—The board for Community Consolidated School District 59 accepted Monday a $5 million bid to buy district-owned property along Arlington Heights Road that currently houses its administration building, the Daily Herald reports.
The potential new owners—Red Rocks 4, LLC, a Mount Prospect developer that has worked on district projects in the past—plan to use the land at 2123 S. Arlington Heights Road and the neighboring property to create a commercial or commercial-residential development, the report stated. Red Rocks 4 was the only party to bid for the property, the report added.
The money from the land sale, which still needs a legal review and the negotiation of a sales agreement to be official, will go toward building a new $12.3 million administration center, the Herald reports. That center's new location will be at 999 Leicester Road in Elk Grove village, and construction is scheduled to start in October with a completion date of July 2017.
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Although the bid was approved by a 6-0 vote, board member Tim Burns abstained because he objected to appearance of impropriety surrounding the property to Red Rocks 4 given its history with the district, according to the Herald. In the past, the developer had received $34.6 million in district contracts, the report stated.
Find out what's happening in Arlington Heightsfor free with the latest updates from Patch.
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