City Of Elmhurst Buys Pizza Palace Building

ELMHURST, IL - The city of Elmhurst has purchased the recently closed Pizza Palace building in downtown Elmhurst and plans to incorporate the property into its First Street & York Street Subarea Plan. The Elmhurst City Council approved the purchase of 113-121 N. Addison Ave. for $2,250,000 at its meeting on Monday.

The Pizza Palace building, also known as the Arcade Building, includes two other businesses: The Club and Coldwell Banker. The city said in a news release it purchased the building from the Conway family, owners of Pizza Palace, after the family's decision to close shop. Both The Club and Coldwell Banker will remain open in their current leases.

Several alternatives suggested in the Subarea Plan call for the Addison Avenue property to ultimately be used as an open space for public programming.

Redevelopment is another option.

“Redevelopment could take place as properties become available…developed individually or in conjunction with one another,” the plan also states.