Village of Elmwood Park Regular Meeting Minutes January 2026
Amended Redevelopment Agreement for North Avenue Property
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Description
The Board amended its redevelopment agreement with 7528 West North Avenue LLC, authorizing property conveyance at $550,000 and a potential $1.5 million incentive if a restaurant opens by November 30, 2026.
Contract Details
Contract Amount
$550,000 (purchase price), $1.5 million (conditional reimbursement)
Vendor
7528 WEST NORTH AVENUE LLC
Agency
Elmwood Park village, IL
Contract Type
OTHER
Document Date
January 5, 2026
Contract Term
Closing January 16, 2026; Restaurant must open by Nov 30, 2026 for full reimbursement
Renewal Date
2026-11-30
Renewal Info
Sixth amendment; prior amendments exist. Incentive clause expires if restaurant not open by deadline.
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Village of Elmwood Park Regular Meeting Minutes January 2026
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Village of Elmwood Park Regular Meeting Minutes January 2026
Village of Elmwood Park Regular Meeting Minutes January 2026
Village of Elmwood Park Regular Meeting Minutes January 2026
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