With no privately brokered deal apparently in sight, Riverside village trustees on Aug. 16 voted to hire a commercial real estate broker to market the village-owned property at 2710 Harlem Ave.
Oak Park-based David King and Associates has been hired as the exclusive listing agent for the property, which comes with an asking price of $260,000.
The longtime site of a former dry-cleaning business, the property was purchased by Riverside in May 2017 for $78,425. However, the village incurred expenses for asbestos and soil remediation along with demolition of the glass, steel and brick building.
Village officials were attracted to the roughly 6,300-square-foot parcel because it sat, at that time, between two other underutilized commercial parcels in the 2700 block of Harlem Avenue.
The hope had been to entice a developer or one of the other private property owners to assemble two or all three of the properties in order to create a significant commercial development.
Since the purchase, a Chicago-area dentist has bought the property to the south, rehabbed it and opened a family dental practice there. Meanwhile, the property to the north, which most recently housed a payday loan business, remains vacant.
“That was always the goal,” said Village President Ben Sells of the village’s desire to see 2710 Harlem Ave. combined with another parcel for development. “The original thought was to buy it because it was the centerpiece and to do something across the three properties.”
While that’s still the goal, said Sells, “If we get a good offer, I imagine the trustees would be willing to sell the one parcel.”
After buying the land, the Riverside Village Board voted to create an official business district along the west side of Harlem Avenue from Berkeley Road south to the alley just south of the Citgo gas station at 539 Longcommon Road.
Trustees also imposed a 1 percent sales tax within the business district, the proceeds of which can be used to support redevelopment efforts there.
“It’ll be a matter now of seeing what the broker can turn up,” Sells said.