Village of Frankfort To Sell Surplus Real Estate

Press release from the Village of Frankfort:

Oct. 11, 2020

At its October 5, 2020 meeting, the Village Board approved a resolution authorizing the sale of the retail building and associated land located at 1 North White Street, situated in the heart of downtown Frankfort.

The Village is seeking $300,000 for the property and will accept contract purchase proposals through 12:00 p.m., noon, on Monday, November 30, 2020. Parties interested in submitting a proposal should visit www.villageoffrankfort.com to review the full text of the resolution and its exhibits for further instructions and terms of sale.

In discussing the process to sell, the Village emphasized its intent to consider both price and proposed use when reviewing and selecting the successful proposal. The resolution states the Village “may give preference to offers from prospective Buyers who are committed to the continued operation of the building on the Parcel for sales tax producing retail or restaurant uses that are consistent with a thriving historic business district.”

“The trustees and I look forward to reviewing the proposals for the property. We expect to find an exciting use that will benefit Frankfort’s downtown and the residents of Frankfort,” commented Mayor Jim Holland.

This press release was produced by the Village of Frankfort. The views expressed here are the author's own.