Village Buys Two Buildings in Downtown Frankfort

Village officials this week approved scooping up two properties in downtown Frankfort. 

At the Nov. 3 Village board meeting, trustees approved the purchase of the property at 19 N. White Street for a price of $185,000 and the purchase of the property at 11 N. White Street for a price of $265,000. Both properties are in downtown Frankfort. These acquisitions, along with several other recent acquisitions, are part of the Village’s plan to encourage developers to bring more retail locations to Frankfort’s downtown district. The Village plans to complete the purchase of both properties within 30 days.

“This winter, we will begin to sell the properties that we have acquired in the downtown to developers who will bring more retail space to our community,” said Mayor Jim Holland. “Many business owners want to locate in our downtown, but there is not currently enough retail space for them. While we look forward to some short term successes, the process of acquiring properties, combining them into retail size units and selling them to developers will likely take years to complete. The plan is to make our downtown more vibrant with retail activity for all Frankfort residents. These two properties are a step in that direction.”