HomeMy WebLinkAbout94-255 I
Resolution No. 94-255
RESOLUTION
AUTHORIZING EXECUTION OF A REDEVELOPMENT AGREEMENT
WITH TLC REDEVELOPMENT GROUP -
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that George VanDeVoorde, Mayor, and Dolonna Mecum,
City Clerk, be and are hereby authorized and directed to
execute a redevelopment agreement on behalf of the City of
Elgin, with TLC Redevelopment Group, a copy of which is
attached hereto and made a part hereof by reference.
s/ George VanDeVoorde
George VanDeVoorde, Mayor
Presented: September 28, 1994
Adopted: September 28, 1994
Vote: Yeas 6 Nays 0
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
8/0V//94
Redevelopment Agreement
THIS AGREEMENT made and entered into this ,2 -hf, day of
, 1994 between the City OF ELGIN, ILLINOIS, a
Municipal Corporation (hereinafter referred to as "the City" )
and TLC Redevelopment Group an Illinois partnership (hereinaf-
ter referred to as "Developer" ) .
WITNESSETH:
WHEREAS, the City has undertaken a program to cause the
redevelopment of certain property hereinafter described in
Exhibit A (hereinafter referred to as "Subject Property" ) as
well as other property pursuant to Chapter 24 , Article II ,
Division 74 .4 of the Illinois Revised Statutes known as the
Tax Increment Allocation Redevelopment Act" (hereinafter
referred to as the Tax Increment Act" ) ; and
WHEREAS, pursuant to the provisions of the Tax Increment
Act, the City has adopted a redevelopment plan and redevelop-
ment project (hereinafter collectively referred to as the
"Tax Increment Plan" ) ; and
WHEREAS, the City has acquired fee simple title to the
said Subject Property legally described in said Exhibit A
(which property as so described in Exhibit A is also some-
times hereafter referred to as the "Redevelopment Project
Area" ) ; and
WHEREAS, in order to further the community development
goals and the Tax Increment Plan objectives, the City has
considered several proposals for the development of the Sub-
ject Property for commercial purposes and has selected the
TLC Redevelopment Group to be the Developer of the Subject
Property; and
WHEREAS, Subject Property falls within the Elgin Enter-
prise Zone which has been certified by the State of Illinois
under the Illinois Enterprise Zone Act on July 1, 1985 which
Enterprise Zone shall remain in effect until June 30, 1995;
and
WHEREAS, pursuant to the Tax Increment Plan it is contem-
plated that the Subject Property shall be developed over a
two year period following conveyance to Developer and shall
be assisted by the City through a variety of mechanisms in-
cluding but not limited to land acquisition, land assembly,
cost write down and site clearance; and
WHEREAS, Developer has submitted to the City a Concept
Plan, which is attached hereto as Exhibit B; and
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WHEREAS, the City desires to sell and the Developer
desires to purchase approximately 193,822 square feet of real
estate which comprises the Subject Property, as described in
Exhibit A in accordance with the terms and conditions herein
provided.
NOW, THEREFORE, in consideration of the premises and the
mutual undertaking, covenants and agreements of the parties
hereto, it is agreed by and between them as follows :
1 . Feasibility Period. All of the property is current-
ly available for Developer to conduct necessary preliminary
investigations including, preliminary engineering, soil ,
environmental audits, hazardous waste testing. For purpose
hereof, preliminary engineering shall not evidence that devel-
opment shall require any unusual costs as reasonably deter-
mined by Developer' s engineer; soil test shall show minimum
compaction of 3,000 psi , environmental audits and hazardous
waste testing shall show the property to be in compliance
with all Federal and State laws. Therefore Developer shall
have 120 days after the execution of this agreement to con-
duct and complete the investigations to determine the feasi-
bility of developing the Subject Property. The purpose of
the preliminary investigation is to determine whether or not
the Subject Property is reasonably suitable for the purpose
described in Developer' s proposal to the City based on the
above criteria. In the event the Developer determines based
on the above criteria that the Subject Property is not reason-
ably suitable for the purposes described in Developer' s pro-
posal, Developer shall notify the City in writing of such
finding not later than ten ( 10) days following the expiration
of the feasibility period, and in that event Developer shall
provide the surveys, memoranda and other data resulting from
the feasibility study undertaken by the Developer, and this
Agreement shall be terminated and Developer' s earnest money
refunded. In the event that the Developer determines that
the Subject Property is reasonably suitable for the purpose
described in Developer' s proposal to the City, the parties
shall proceed as provided in this Agreement.
2 . Preliminary Assurances . Within 30 days from the
date hereof, the City shall deliver the following to Develop-
er at the City' s cost:
A. A current commitment for title insurance issued
on or after the date hereof by Chicago Title Insurance Compa-
ny of title to the Subject Property with extended coverage
over the general exceptions and subject only to the following
special exceptions ( "Permissible Exceptions" ) ;
1 . General taxes not yet due and payable;
2 . Public utility assessments as may be approved by
Developer and the City; and
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DRAFT
3 . With an endorsement by Chicago Title Insurance
Company that upon acquisition of fee simple
title to the Subject Property by the City the
same shall be subject only to said Permissible
Exceptions .
B. The City shall and agrees to secure a survey in
accordance with ALTA standards ( "ALTA Survey" ) , showing the
exact boundaries, legal descriptions and "net square footage"
of the Subject Property (net square footage shall be net of
all perimeter streets, roads and highways, pedestrian and
bicycle trails, and easements for rights-of-way for public
utilities and public roads which service property off-site of
the Subject Property and any property located in flood plains
or wet land areas ) designating any part lying within the
rights-of- way of any dedicated road or highway, all improve-
ments, all fencing or other improvements of every kind which
might constitute encroachments in either direction over the
boundaries, all public or private utility or drainage ease-
ments or easements of passage of record, and a designation of
the "net square footage" of the property as set forth herein,
such designation to be binding on the parties .
3 . Vacation of Easements and Streets and Alleys . The
City shall , at or prior to the term of delivery of title and
possession of the Subject Property, without cost to Develop-
er, cause vacation of all streets and alleys and other
rights-of-way, whether public or private, and all utilities
under the City' s control . The City agrees to cooperate and
use its best efforts but without cost to the City to cause
all other easements for public utility lines to be vacated so
that title shall be free and clear of such streets, alleys,
easements and other rights-of-way in order to effectuate the
development of the Subject Property as contemplated by this
Agreement. The parties agree to commence this process as
soon as a determination as to easement locations are made.
4 . Escrow. Absent notification from Developer of its
termination of the Agreement pursuant to Paragraph 1 , within
30 days after the expiration of the time period set forth
therein, the parties, through their respective attorneys,
shall establish an Escrow (herein called "Escrow" ) with Chica-
go Title and Trust Company for the purpose of closing all of
the transactions contemplated by this Agreement. The Escrow
instructions shall conform with the provisions of the usual
instructions for Deed and Money Escrows then in use by the
Escrowee with such additional provisions included therein as
may be required to conform with the terms of this Agreement,
it being intended, however, that the terms of this Agreement
shall control . Upon the opening of said Escrow, all payments
on account of purchase price, the delivery of deeds and all
transactions contemplated by this Agreement shall be accom-
plished through the Escrow. The cost of the Escrow shall be
divided equally between the City and the Developer.
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5 . Purchase Price; Earnest Money.
A. The purchase price for the Subject Property
shall be $0 . 508 multiplied by the "net square footage" (as
defined in Paragraph 2 above) contained therein.
B. Developer at its own cost shall demolish all
remaining existing structures and clear the site.
C. Developer shall construct an area business shop-
ping center containing approximately 32 ,000 square feet of
retail shopping space, in general conformance to the concept
plan shown in Exhibit B, which center shall have a fair mar-
ket value of not less than $1,600, 000 . (The Developer agrees
that it shall lease the retail shopping space to business as
exampled in Exhibit B-1 with no less than 20, 000 square feet
being leased to retail merchants whose sales of goods and/or
services are subject to the retail occupation sales or ser-
vice taxes . ) Developer agrees that said neighborhood shop-
ping center shall be developed in substantial conformance
with the Concept Plan attached hereto as Exhibit B. Develop-
er further agrees that the shopping center shall be developed
with the architectural styling, features and materials in
conformance with the elevation attached hereto as Exhibit C.
D. Concurrently herewith, Developer has delivered
to the City its check made payable to Chicago Title and Trust
Company as Escrowee in the amount of $10, 000 . 00 which is to
be deposited in the escrow, when established, and held as
earnest money. After the expiration of the time period set
forth in Paragraph 1 hereof, the earnest money in escrow
shall be increased to $25, 000 . 00 . The Escrowee shall be
instructed to invest all earnest money and to pay the pro-
ceeds of investments ( less costs thereof) to Developer. All
earnest money shall be held and applied to the payment of the
purchase price.
6 . Agreement to Sell and Purchase the Subject Proper-
ty. Subject to the terms, conditions, covenants and provi-
sions, and the satisfaction or the waiver of the contingen-
cies herein contained, Developer agrees to purchase and the
City agrees to sell and convey to the Developer fee simple
title to the Subject Property subject only to Permissible
Exceptions for the purchase price specified in Paragraph 5 .
7 . Purchase and Closing.
A. The closing, provided that the City is not in
default under any of its obligations, representatives or
warranties hereunder or as soon thereafter as any such de-
fault shall have been cured (but no later than 30 days after
notice unless extended by Developer in writing) , shall be on
a date specified by the Developer, but in no event later than
April 30, 1995 provided the City Council for the City has
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enacted ordinances rezoning all of the Subject Property to a
Planned Area Business (PAB) classification with the permitted
uses set forth in said district as of the execution hereof
being applicable. As a further condition to closing, there
shall have been issued by each of the appropriate governmen-
tal agencies all required Fox River Water Reclamation Dis-
trict permits, Illinois EPA permits for public water supplies
and Water Pollution Division permits, IDOT Division of Water
Resources permits, Army Corps of Engineer Permits and City
Development and Building permits .
B. Developer shall buy the Subject Property at
purchase price specified in Paragraph 5 in cash, certified
check or wire transfer on the closing date.
C. On or before the closing date, the City shall
deliver to the Escrowee ( i) a warranty deed conveying the
Subject Property to the Developer or the Developer' s nominee
subject only to the Permissible Exceptions recited at Para-
graph 2 , and ( ii) a written commitment for title insurance
therefore issued by Chicago Title Insurance Company in the
amount of the purchase price, subject only to the above men-
tioned Permissible Exceptions and to the usual general excep-
tions contained in Owners Policy issued by said Company and
containing extended coverage of general exceptions numbers 1
through 5, inclusive, in the Owners Policy. If the title
commitment or plat of survey discloses either unpermitted
exceptions or survey matters which are not Permissible Excep-
tions (herein referred to as "Unpermitted Exceptions" ) City
shall have 30 days from the date of delivery thereof to have
the Unpermitted Exceptions removed from the commitment, to
correct the survey to remove the Unpermitted Exceptions, or
to have the title insurer commit to insure against loss or
damage that may be occasioned by such Unpermitted Exceptions
to Developer' s satisfaction, and in such event, the time of
closing shall be 20 days after delivery of the commitment or
the time expressly specified in Paragraph 7A, whichever is
later. If the City fails to have the Unpermitted Exceptions
removed, corrected or insured over, or in the alternative, to
obtain the commitment for title insurance specified above as
to such Unpermitted Exceptions within the specified time,
Developer may terminate this Agreement or may elect, upon
notice to the City within 10 days after the expiration of the
20 day period, to take title as it then is with the right to
deduct from the purchase price liens or encumbrances of a
definite or ascertainable amount. If Developer does not so
elect, the Agreement shall become null and void without fur-
ther action of the parties except as to remedies available
under Paragraph 22 herein.
D. Prior to closing, all gas, electric and tele-
phone lines and easements not needed to service this site
shall be vacated, abandoned and removed from the site. The
City shall cooperate with Developer and with each utility
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company to accomplish the foregoing. Developer shall secure
written permission from the affected Utility Company for the
vacation of easement.
8 . Zoning and Planned Unit Development
A. Within 30 days after Developer determines that
the Subject Property is suitable for the purposes described
in this Agreement, the City shall make application to the
Planning and Development Commission to conduct public hear-
ings to recommend to the City Council of the City the rezon-
ing of the Subject Property to a Planned Area Business Dis-
trict classification. Developer shall submit application
materials as required by the City. Filing fees, publication
charges and related costs shall be paid by the City. In the
event the City Council determines not to rezone the Subject
Property to the Planned Area Business District classifica-
tion, this Agreement shall be null and void and the earnest
money deposit shall be returned to Purchaser.
B. The City represents, to the best of its knowl-
edge, that the following capacities are currently existing:
Sewage Treatment capacity of the Elgin Sanitary District
North Plant - 5 . 75 MGD, South Plant - 25 . 00 MGD; Sanitary
Sewers : Seneca Street - 15" , Dundee Avenue - 15" - 18" ,
John Street - 15" , Summit Street - 8" ; Water Main: Summit
Street - 4" - 12" , Dundee Avenue - 8" , Seneca Street - 4" ,
St. John Street - 4" ; Water Pressure: Dundee Avenue and Hicko-
ry Place - static pressure is 65 psi; Storm Sewer Capacity:
Seneca Street - 24" , Dundee Avenue - 60" , and
C. Zoning and site plan approval is conditional
upon the installation of the following:
1 . Relocation, if required, of storm and sani-
tary sewer lines presently under the Seneca Street and St.
John Street rights-of-way.
2 . The closures of Seneca Street west of the
project area.
3 . Finish grading and landscaping of the open
space buffer to the west of the commercial development.
D. The improvements referred to in Paragraph 8C
above shall be constructed by the Developer.
9 . Additional City Warranties and Representations .
City represents and warrants, that such representations and
warranties are true, correct and in effect on the date here-
of, and at the time of closing and which representations and
warranties by the City contained in Paragraphs 8 and 9 and
elsewhere in this Agreement shall survive the closing, and
shall extend to the successors and assigns of the Developer.
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r
A. There are no special understandings or agree-
ments between the City and any other governmental authority
limiting or defining ( i) the use and development of the Sub-
ject Property, ( ii) the construction of improvements thereon,
(iii) the availability to the Subject Property of public
improvements and municipal services, and ( iv) any require-
ments to share in the cost thereof by recapture, contribu-
tion, special assessment or otherwise.
B. The City has full power and authority to enter
into this Agreement and the Agreement is fully binding upon,
and enforceable against the City in accordance with its terms .
C. The City hereby incorporates by reference and
remakes any warranties and representations which are made
elsewhere in the Agreement.
10 . Security Regarding Public Improvements . In lieu of
ordinance requirements concerning the posting of completion
and maintenance bonds or letter of credit, Developer, in the
alternative, may post with the City letters from sound and
reputable banking or financial institutions authorized to do
business in the State of Illinois representing to the City
that such bank or financial institution has committed funds
for the completion of all required public improvements if
any, and further, has committed the required sum of money for
the required period of time for maintenance of such public im-
provements . Written consent of the City (which shall not be
unreasonably withheld) is required for release of funds for
payment of public improvements . As the payments are made,
the City agrees to reduce the amount of the financial commit-
ments aforesaid, concomitantly.
11 . 1 Prorations .
A. Developer shall be responsible for payment of
general real estate taxes from and after the date of its
acquiring the property.
B. The City shall furnish a complete Real Estate
Transfer Declaration signed by the City or its agent in the
form required pursuant to the Real Estate Transfer Tax Act of
the State of Illinois, and shall furnish any declaration by
the City or its agent or meet other requirements as estab-
lished by 'any local ordinance with regard to a transfer or
transaction tax.
12 . Fees and Charges . Fees and charges of the City for
building permits, connection fees, plan review and inspection
charges, and other fees and charges shall not exceed those
fees and charges as exist as of the date of this Agreement
for a period of two years from the date of closing. Thereaf-
ter the usual and customary fees and charges then in exis-
tence shall apply.
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13 . Oversizing of Public Improvements . Developer shall
not be required to oversize on-site or off-site public im-
provements, sanitary or storm sewer and public water facili-
ties for the purpose of serving property other than the Sub-
ject Property.
14 . Enterprise Zone. As stated in the preamble in this
Agreement, the Subject Property falls within the certified
Elgin Enterprise Zone. The City shall cooperate with the
Developer and use its best efforts in attempting to secure
for the Developer of the Subject Property all appropriate
benefits which may be applicable in the development of Sub-
ject Property.
15 . Term of This Agreement. This Agreement shall be in
full force and effect for a period of two years from the date
of recording of the deed from the City to the Developer. The
parties by mutual agreement may provide for further extension
of this agreement in the event of unforeseen circumstances
beyond the City' s and Developer' s control .
16 . Temporary Structures . During the term of this
Agreement, the Developer shall be permitted to use portions
of the Subject Property for temporary construction office and
storage use, including temporary buildings, trailers, signs,
material, equipment and temporary portable sanitary facili-
ties in accordance with all City ordinances . Subject to the
prior written approval of the City, temporary fuel storage
facilities shall be permitted, but must comply with all appro-
priate ordinances, statutes and regulations .
17 . Stop Orders . The City shall issue no stop orders
directing work stoppage on buildings or parts of the property
without setting forth the Section of the Ordinance allegedly
violated by the Developer; and allowing said party to forth-
with proceed to correct such violations as may exist. The
City shall give written notice in advance by delivery to said
party or posting on the building of its intention to issue
stop orders at least twenty-four (24 ) hours in advance of the
actual issuance of such stop orders; except in the case of
any emergency as determined by either the City Engineer or
the Building Official, in which case no prior notice is re-
quired.
18 . Certificate of Occupancy. The City agrees to issue
certificates of occupancy within fourteen ( 14 ) working days
of application therefore or issue a letter of denial within
said period of time informing the applicant specifically in
writing as to what violations are to be corrected as a condi-
tion to this issuance of certificate of occupancy and quoting
the Section of the Ordinance relied upon by the City in its
request for correction.
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• T
19 . Time of the Essence. It is agreed by the parties
that time is of the essence in this Agreement, and that said
parties shall make every reasonable effort to expedite the
matters herein included.
20 . Enforcement of Agreement. This Agreement shall be
enforceable in any court of competent jurisdiction by any
appropriate action at law or in equity to secure the perfor-
mance of the covenants herein contained.
21 . Effect or Partial Invalidity. If any provision of
this Agreement, or any section, sentence, clause, phrase, or
work, or the application thereof in any circumstance, is held
invalid, such provision shall be deemed to be exercised
herefrom and the invalidity thereof shall not affect any of
the other provisions contained herein.
22 . Assessment of Redevelopment Site. The City and the
Developer agree that the Redevelopment Project and Site
should be assessed for general real estate taxes in the man-
ner provided by Illinois Revised Statutes as they may be
amended from time to time. This provision shall not be
deemed to prevent the Developer from appealing or challenging
assessments against the Redevelopment Project or Redevelop-
ment Site which it considers to be contrary to law. The
Developer agrees that as long as any Tax Increment Bonds are
outstanding it and no person affiliated with it shall do any
of the following:
A. Seek to reduce the assessment of the Redevelopment
Site below $533, 333 upon completion of the Redevelopment
Improvements and the achievement of a 70% occupancy level; or
B. Request a full or partial exemption from general
real estate taxes; or
C. Request an assessment at a value not otherwise per-
mitted by law.
23 . Default. The City and the Developer agree that, in
the event of a default by either party including a default by
breach of any warranty or representation, the other party
shall, prior to taking any such action as may be available to
it, provide written notice to the defaulting party stating
the default and giving the defaulting party thirty ( 30 ) days
within which to cure such default. If the default shall not
be cured within the thirty (30) day period aforesaid, then
the party giving such notice shall be permitted to avail
itself of any remedies to which it may be entitled under the
Agreement or at law or in equity, provide, however, that
prior to closing, the City' s remedies for the Developer' s
default shall be limited to forfeiture to the City of the
Earnest Money as and for liquidated damages in lieu of any
and all other remedies . After closing on each parcel, the
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City may elect to accept a reconveyance of the Subject Proper-
ty, free and clear of all encumbrances, liens, or claims,
together with
a refund of anyout-of-pocket costs incurred by
it or may elect to pursue any remedies it may otherwise have
at law or in equity, for the Developer' s breach. In the
event of such termination and forfeiture, the Developer shall
deliver to the City, at no cost to the City, all plats, plans
(but not building plans) , soil tests, and engineering studies
prepared by or for the Developer in connection with the Sub-
ject Property.
24 . Notice. All notices, demands or requests required
or permitted under this Agreement shall be in writing, which
shall be deemed to have been properly made on the date of
service if served personally and on the second day following
mailing if sent by United States Certified Mail, postage
prepaid, return receipt requested, addressed as follows :
If to Developer: TLC Redevelopment Group
910 West Lake Street
Suite 106
Roselle, IL 60172
If to City: City of Elgin
150 Dexter Court
Elgin, IL 60120
Attn: City Clerk
With a copy to: Erwin W. Jentsch
Corporation Counsel
City of Elgin
150 Dexter Court
Elgin, IL 60120
25 . Successors and Assigns . The terms and conditions
of this Agreement shall inure to the benefit of and and be
binding upon the parties hereto and their respective succes-
sors and assigns . The Developer, without the consent of the
City, shall have the right to assign this Agreement or its
interest herein to a limited partnership of which it is the
general partner, and the Developer shall have the right to
assign this Agreement or its interest herein to any third
party but only with the consent of the City, which consent
shall not be unreasonably withheld.
26 . Execution. This Agreement may be executed in coun-
terparts and if so executed shall constitute one and the same
Agreement.
27 . Amoco and Merlin Muffler Properties as Part of
tandinother provisions of this
Development. Notwithstanding any and
agreement, the parties understandagree that two addition-
al parcels of property shall be included within the Planned
Area Development. The city will enter into agreements as set
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forth in Exhibit D (the Amoco property) and Exhibit E (the
Merlin Muffler property) so as to acquire certain properties
to be included in the conveyance to Developer and to provide
for the inclusion of the remainder of the Amoco and Merlin
Muffler properties within the Planned Area Development .
Developer agrees to include the Amoco and Merlin Muffler
properties within the Planned Area Development and hereby
consents to the terms and provisions of the agreements in
Exhibits D and E .
Developer further understands and agrees that Exhibits D
and E represent current drafts of the proposed agreements for
the Amoco and Merlin Muffler properties . Developer agrees
that the city in its negotiations with the owners of the
Amoco and Merlin Muffler properties may be required to amend
said agreements in order to reach final agreements with said
parties . Developer agrees that any such amendments may be
made at the sole discretion of the city and the Developer
hereby consents to any such amendments and agrees to be bound
by the terms and provisions of said agreements as the same
may be amended.
28 . No Conflicting Interest. Developer hereby repre-
sents and warrants that neither the Developer, nor any offi-
cer or director of the Development Corporation presently own
or have any beneficial interest in the subject property to be
conveyed to Developer or entitled to receive any income from
the subject property. In compliance with 50 ILCS 105/3 . 1,
Developer shall provide the city with a written statement
subscribed by an owner, authorized trustee, corporate offi-
cial or managing agent, under oath, disclosing the identity
of every owner having an interest,. real or personal, in the
development group and every shareholder entitled to receive
more than 7 1/2% of the total distributable income of any
corporation which will have any interest, real or personal,
b y the
in such property upon the acquisition of any interest
Developer in the subject property.
City of Elgin, a Municipal
Corporation of the State of
Illinois / TLC Redevelopment Group
kd ) 2DiT(6,14/6
By: By:
Mayor Its : P ident
Attest: 21914.14,P4 � �
,,- Attest:
6(vs
City Clerk Its : Secretary
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•
EXHIBIT X
LEG&L DEBGRIPTIONN
OF PROPERTY DESCRIBED AS FOLLOWS:
Part of Lot 5 in Block 14 of P.J. Kimball Jr.'s 3rd Addition to Elgin and
part of Seneca Street adjoining the North line of said Lot 5; ALSO, Lots 4. 6. 7
and 8 and parts of Lots 1, 3 and 5 of W.H. Wilcox's 2nd Addition to Elgin, and
part of Seneca Street adjoining the North line of said Lots 4 through 8; ALSO,
•• Lots 6, 7 and 8 and parts of Lots 3, 4, 5 and 9 'through 13 of Babbitt's Addition
• to Elgin, and part of St. John Street adjoining the West line of said Lots 8 and
9; AY-O. 1,.+t 3, 4 and 5 and parts of Lots 6 and 8 of Mrs. J.R. Kimball's
Subdivision, and part of Seneca Street adjoining the South line of said Lots 3, 4
and 5, all situated in the Southwest Quarter of Section 12, Township 41 North,
Range 8 East of the Third Principal Meridian, City of Elgin, Kane County,
Illinois, described as a whole as follows: Beginning at the Southeast corner of
• Lot 1 of W.H. Wilcox's 2nd Addition; thence on an assumed bearing of North
33 degrees 49 minutes 47 seconds East along the Southeast line of said Lot 1, a
distance of 32.00 feet; thence'North 64 degrees 07 minutes 54 seconds West,
• parallel with the Southwest line of said Lot 1, a distance of 180.00 feet to the•
Southeast line of Lot 6 of W.H. Wilcox's 2nd Addition; thence North 33 degrees
49 minutes 47 seconds East along said Southeast line, 103.33 feet; thence South
64 degrees 07 minutes 54 seconds East, parallel with the Southwest line of Lot
3 of W.H. Wilcox's 2nd Addition, 180.00 fast to the Southeast line of said Lot
• 3; thence North 33 degrees 49 minutes 47 seconds East along the Southeast line
of Lots 3 and 4 of W.H. Wilcox's 2nd Addition and tiie Northeasterly extension
*thereof, 214.34 feet; thence North 56 degrees 10 minutes 13 seconds West,
160.00 feet; thence North 33 degrees 49 minutes 47 seconds East, 142.77 feet to
a point 50.50 feet South of the North line of Babbitt's Addition; thence South 90
deg s 00 chutes 00 seconds West, parallel with the North line of.Babbitt's
• Addition, 294.45 feet to the West line of Lot 9 in Babbitt's Addition; thence
South 0 degrees 23 minutes 42 seconds Fast along said West line, 29.59 feet to
a point 80.50 feet South of the Easterly extension of the North line of Mrs. J.R.
•Kimball's Subdivision; thence South 89 degrees 50 minutes 10 seconds West,
parallel with the North line of Lot 8 of Mrs. I.R. Kimball's Subdivision, 248.11
feet to the West line of said Lot 8; thence South 0 degrees 23 minutes 10 seconds
. East along the West line of Lots 8 and 3 of Mrs. J.R. Kimball's Subdivision,
184.30 feet to the Southwest cornet of said List 3; thence South 0 degrees 03
minutes 14 seconds East, 66.00 feet to the Northwest corner of the East 58.00
• feet of the West 190.00 feet of Lot 5 in Block 14.of P.J. Kimball Jr.'s 3rd
Addition; thence South 0 degrees 22 minutes 48 seconds East, parallel with the
: West line of said Lot 5, a distance of 132.00 feet; thence North 89 degrees 46
minutes 22 seconds East, parallel with the North line of said Lot 5. a distance of
t 62.97 feet to the East tine of said Lot 5; thence North 26 degrees 24 minutes 24
seconds East along said East line,2.95 feet; thence North 34 degrees.23 minutes
42 seconds East along said East line, 67.17 feet to the Southwest line of Loot 8 of
W.H. Wilcox's 2nd Addition; thence South 6$'degrees 07 minutes 54 seconds
East along the Southwest line of Cots 8, 7, 6 and 1 of W.H. Wilcox's 2nd
Addition, 329.75 feet to the Point of Beginning. •
EXHIBIT B
CONCEPT PLAN
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EXHIBIT B-I • I DA cet,2
SCALE. 1-.80' CNRCf3D
39.800 5<%s/IOOOCROSS AREA.t59 SPACES sCAL6,„.6O.
PA 'ROAOEO ORAIEN BY
HC.
b C.•IG2 I69 SPACES
SHEET
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White Hen Pantry 2,400 Sq. Ft.
Jake' s Pizza 1,000 to 2,000 Sq. Ft.
Cousin's Submarine 1,000 Sq. It.
Hardea'a 3,000 Sq. Ft.
Baskin Robbins. 1,000 Sq. Ft.
Drug Store 1,000 to 10,000 Sq. Ft .
Pet Care Plus 5,000 Sq. Ft.
Bedding experts 1,000 Sq. Ft.
Sotdog'a 1,000 Sq. Ft.
Factory Card Outlet 2,000 Sq. Ft.
Shoes 3,000 Sq. Ft.
Radio Shack 3,000 Sq. It.
Gift Shop 3,000 Sq. Ft.
We, also have to include tenants that are not necessarily sale tax
generators.
These tenants are vital to a healthy tenant mix.
Dry Cleaner 1,500 Sq. Ft.
Bair Salon 1,000 Sq. Ft.
Video 3,000 to 6,000 Sq. Ft.
Pak Mail 1,000 Sq. Ft.
Jenny Craig 2,000 Sq. Ft.
Doctor's Office 3,000 Sq. Ft.
Real Rstate office 2,000 to 4,000 Sq. Ft.
Dog Groomer 1,000 Sq. Ft.
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Nail Salon 1,000 Sq. It.
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EXCLUSIVE AGENT
NI„•�/e/r corner of
Kirk Rd. For more information contact:
Mike Meksto (708)573.7083 or
and Main St. (Rt. M)
Kevin McLoughlin (708)573-70J79
COLDWELL BANKER
St.• Charles, IL COMMERCIAL REAL ESTATE SERVICES
8 BAN R
CCapitalVent°nea D�erelop�sent Corporation fl
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