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December 14, 2006

A List of Oak Park-owned Real Estate

In Part 1 of my two-part article on "Oak Park's Kelo Problem," I noted that "[t]he village of Oak Park owns a LOT of real estate, and its portfolio continues to grow."  How much real estate are we talking about?  The Wednesday Journal recently published a list of Village-owned properties:

1125-1133 Lake St. (the Colt Building)

1145 Westgate (office building)

1113 Lake St. (Los Cazadores restaurant)

1121-1123 Lake St. (retail building)

1112-1118 Westgate (office/retail building)

2-10 Chicago Ave. (mixed-use building)

2 North Boulevard (parking lot)

708 Lake St. (Tasty Dog restaurant)

130 N. Marion St. (former Sawyer Business College)

301 S. Oak Park Ave. (empty lot)

710-24 Madison St. (empty lots (3))

250-60 Madison St. (former Shepherd Volvo)

239-45 Madison St.

301-07 Madison St.

826-28 S. Oak Park Ave. (empty building)

The same issue lists tax revenues from twenty new construction projects undertaken in Oak Park since 2000.  The tax revenues from these projects? $4,131,914.  I wonder how much tax revenue the fifteen village-owned properties would generate if they were privately owned?

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