Lockport Tables Purchase Of Property In Downtown

LOCKPORT, IL — At its meeting on Wednesday, the Lockport City Council decided to continue and discuss at a later meeting an ordinance for the purchase of commercial property in downtown Lockport, at 723 S. State St.

In 2023, $200,000 was budgeted for a strategic acquisition, and the property will be purchased for $195,000 with associated closing costs, according to Council documents.

City Administrator Ben Benson said the property is directly across from Dunkin' Donuts, and is the former Cat Clinic.

"The backstory on this one is, we looked at this property in the past, we actually budgeted to purchase this earlier this year," Benson said. However, the property owner accepted a different offer for the property for a higher price.

Benson said that deal fell through, and the property owner approached the City to see if they were still interested.

"It's about control in our downtown," Benson said. "This is a nice bookend."

The intent would be to purchase the property and potentially demolish the building next year, Benson added.

"At this point, we're not planning to do much with it except acquire it, control it, come back to the Council in the future," Benson said.

A parking lot would be difficult and possibly expensive at the site, since it straddles a creek underneath the property.

Several alderpersons questioned the cost of the property, especially since it could be difficult for the City to develop.

"I think it's one of those strategic acquisition things that could give us some opportunity," Benson said, adding that a developer could work with the City for future development.

Mayor Steve Streit said that although the funds are budgeted for 2023, but the Council has options to hold the money aside for 2024 budgeting.

"I don't think we have to feel pressure to do this immediately," Streit said, adding he'd like to hear more from real estate agents.

The Council decided to continue the ordinance to discuss at its Jan. 17 committee of the whole meeting.