Tinley Park Approves $1.7 Million Sale Of Prior Lincoln-Way Land

TINLEY PARK, IL — Land purchased by Tinley Park from Lincoln-Way High School is being resold from the village to a suburban development group, village officials said a board meeting last week.

GSP Development group from Des Plaines was approved to purchase the 72-acre lot near Interstate 80 and Harlem Avenue for $1.7 million. According to village records, Tinley Park purchased the land from District 210 in February of this year for $1.5 million.

BEFORE: Tinley Park Buys 72-Acre Lot From Lincoln-Way For $1.5 Million

The land was first purchased in 1996 when District 210 officials planned to build Lincoln-Way North at the location. After neighbors voiced safety concerns around having the high school at the crossroads of two fast, busy streets, the school was instead built at 199th Street and Harlem Avenue.

From there the parcel changed hands — and plans — multiple times. In June of 2017, District 210 elected to sell the land to Woodman's Food Market for a hefty $4.6 million. The following year, however, the company declined to buy the property after stating the developable land within the property wasn't large enough for the planned store, gas station and car wash.

Following Woodman's decision, district officials hired a Chicago-based appraisal company to give an estimated value of the land. According to them, only 23 of the total 72 acres on the site are "developable," meaning structures can be built in whole on the land.

The firm said pipeline issues, flood plan and stormwater requirements made it so the remaining 49 acres could pose a challenge to build on. In total, Appraisal Associates valued the land at around $1.55 million.

GSP Development can elect do an independent evaluation of the site to ensure it fits their needs. As of Friday, spokespeople for the development group had not returned Patch's request for comment on what the company plans to build on the land should the sale go through.

Tinley Park's Board of Trustees unanimously voted to enter the sale agreement last week, which asks for a $50,000 deposit which the village would return if GSP Development decides to back out prior to June 1.

Other GPS Development sites include Apex 41 in Lombard, which is an upscale apartment complex. The company is also in the midst of building an apartment development in Glen Ellyn.