Elmhurst Missed Chance At Bargain: Homeowner

ELMHURST, IL – Elmhurst could have gotten a far better deal a couple of years ago for a house near the Spring Road business district than it did this week, the former homeowner said.

This is relevant because the city on Monday agreed to pay $530,000 for the house at 322 W. Eggleston Ave. It bought the property from a limited liability company that purchased it for $355,000 five months earlier. The firm, owned by an Elmhurst resident, saw a gain of $175,000.

The city's spokeswoman has not responded to Patch's inquiries about the purchases of 316 and 322 W. Eggleston.

In an interview this week, Rita Lindstrom, who lived at 322 W. Eggleston Ave. for more than three decades, said a city consultant approached her two years ago about buying the house.

The consultant, Charlie Van Slyke, said the city would only pay $280,000 to $320,000, contending flooding reduced the home's value, Lindstrom said.

She said she was willing to sell it for $363,000, which is the county's assessed value for the property. If the city received such an offer, it could have spent $167,000 less than what it ultimately did.

"This is a failure all the way around, the city not buying it when they had the opportunity two years ago," Lindstrom said.

Knowing the city would try to get the property one way or another, Lindstrom said she sold it to KLJMM LLC. State records show the firm is associated with Elmhurst resident Richard C. Bogdanowicz.

Lindstrom said she then moved to Villa Park where housing is less expensive. She noted Mayor Scott Levin's recent speech that Elmhurst benefits neighboring Villa Park, given the lack of affordable housing in Elmhurst.

At his State of City address in January, Levin said, "I think we're going to be the biggest boon for Villa Park because that's where people wind up, being next door to Elmhurst."

In selling the house, Lindstrom said she dealt with Richard Bogdanowicz's wife, Liz Bogdanowicz, an Elmhurst real estate broker. Lindstrom said Liz Bogdanowicz indicated she planned to tear down the house and build anew.

Richard and Liz Bogdanowicz are known for buying and selling properties in the area.

Lindstrom said she did not believe Liz Bogdanowicz knew about the city's desire to buy the property.

As for Van Slyke, she said he treated her like she had "just fallen off the turnip truck."

Van Slyke has worked as a city consultant since 1988, often dealing with real estate issues. His contract allows him to make as much as $99,000 a year.

Last year, a trio of aldermen questioned the costs for Van Slyke and another longtime consultant.

Patch could not find contact information for Van Slyke. Patch left a message with the Bogdanowiczes.

In a news release Wednesday, the city said it purchased the two houses behind the Spring Road business district to address the issues of flooding and parking. It is planning a $6.5 million project, which is expected to start in 2027.