EMINENT DOMAIN HITS HOME IN CHICAGO!
ALDERMAN SOFTENS STANCE IN CHICAGO'S LINCOLN SQUARE NEIGHBORHOOD
Eminent Domain is the process by which local or state governments may acquire property owned privately for the public good. The process involves condemning the property, and paying a fair market value to the current property owner.
As originally intended, Eminent Domain and condemnation of properties were opitons used by governing bodies to build roads, parks, public buildings serving the surrounding community. In recent years, however, across the country, much of the targeted land ends up in the hands of well-connected developers, who stand to make a considerable profit by developing high-end residential and commercial projects on the acquired property.
Earlier this year, the City of Chicago made known a plan to purchase several commercial properties in the bustling Lincoln Square Neighborhood, at the corner of Lincoln, Western, and Lawrence Avenues, by either "voluntary" or "involuntary" means. The action would impact properties on the 4800 Block of North Western and Claremont Avenues. On December 5th, over 100 irritated residents of Lincoln Square protested possible involuntary acquisition at the office of 47th Ward Alderman Eugene Schulter.
After a subsequent meeting with owners of local businesses with leases at several of the impacted properties, Schulter backed off a bit. On December 10th, he said the issue would be referred to Chicago City Council Committee, and that the older commercial building at 4807 N. Western Avenue would be acquired only voluntarily, where the terms of purchase are "mutually acceptable to all parties."
Several other properties, including a large building containing a Walgreen's Store at 4800 N. Western, are still on the list for "involuntary acquisition", assuming acceptable terms cannot be worked out with the building's current owners.
At present, all of the affected properties are held either privately or by corporations, and several are in trust. All are current on their Cook County real estate taxes, although several of the buildings north of the Walgreen's are in disrepair.
In Chicago, Aldermen hold considerable sway on zoning and land use matters in their own ward, so Schulter's position is seen as critical to future development plans at this corner. It often takes years to completely settle all property acquisition matters pursuant to eminent domain proceedings.
For more information, review Lorraine Swanson's article in the December 12th issue of the Lakeview Neighborhood Booster Newspaper.
Stay tuned for further developments!
DEAN MOSS & DEAN'S TEAM CHICAGO
