Branding For Growth
Algonquin officials have agreed to purchase the 101 S. Main St. property, left, for $250,000 to expand upon the village's downtown streetscape plan.
In a move that could enhance elements of Algonquin's ongoing streetscape plan, village officials have decided to purchase a property in the heart of downtown.
The village is acquiring the 101 S. Main St. building and adjoining parking lot from Diana Wood, who has been using the site as office space for her real estate agency, Assistant Village Manager Michael Kumbera said. She recently approached village officials about the sale after the property had been periodically put on the market in the past, he said.
Recognizing the site's prime location and access to Crystal Creek, Kumbera said, the village saw Wood's offer as an opportunity to expand upon its $30 million streetscape project, which aims to make the downtown area more pedestrian friendly.
The village board this week unanimously approved buying the site for $250,000. Wood will be allowed to remain as a tenant through August, according to a sale agreement.
"The acquisition gives us some options as we continue with our downtown redevelopment," Kumbera said.
The master plan includes linking a handful of fragmented parking lots along Harrison Street to create a unified downtown public parking area, he said. The 101 S. Main St. parking lot, which is private, also has Harrison Street access and could be included in those plans.
"With that parking component, that was a real logical acquisition," Kumbera said. "It helps create what we are trying to do down there."
The village is also considering using the building as a temporary engineering and construction office during the redevelopment, he said, though those plans haven't been set in stone. Once the project is completed, officials would have to reassess their plans for the structure.