TIF Development Agreement With 8500 MG LLC Introduced | Morton Grove village (pt.) | 8500 MG LLC

Scope & details

The full contract record, as filed.

Contract amount

Property sale: $1,500,000; TIF reimbursements up to $1,750,000

Contract type

CONSTRUCTION

Contract term

Note and mortgage forgiven if residential certificates of occupancy issued within two years of closing; forgivable loan for restaurant component forgiven after five years of full-service operation

Renewal

Development agreement includes conditional forgiveness of a $1.5 million note and mortgage if all residential units receive occupancy certificates within two years of closing and a forgivable loan component tied to five years of restaurant operation; broader renewal or amendment terms not detailed in the minutes.

Document type

Minutes

Source document

Village of Morton Grove Minutes Regular Meeting of the President and Board of Trustees 2026-08-11

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Village of Morton Grove AgendaPacket September 22, 2.026

APPROVED

Morton Grove village (pt.), IllinoisUp to $1,750,000 in TIF assistance; $1,500,000 sale of Village property; approximately $5,470,000 total value of Village assistance including property valueSep 22, 2026

Village of Morton Grove AgendaPacket Regular Meeting 2026-08-25

APPROVED

Morton Grove village (pt.), Illinois$1,500,000 property sale; up to $1,750,000 in TIF reimbursementsAug 25, 2026

Village of Morton Grove Minutes Regular Meeting August 25, 2026

APPROVED

Morton Grove village (pt.), IllinoisUp to $1,750,000 in TIF assistance; $1,500,000 property sale subject to a note and mortgage; approximately $5,470,000 total value of Village assistance including propertyAug 25, 2026

Village of Morton Grove AgendaPacket Regular Meeting 2026-08-11

APPROVED

Morton Grove village (pt.), IllinoisUp to $1,750,000 in TIF reimbursements plus sale of Village Property for $1,500,000 (subject to note and mortgage)Aug 11, 2026

Village of Morton Grove Board of Trustees Meeting Minutes January 13 2026

APPROVED

Morton Grove village (pt.), IllinoisJan 13, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by Morton Grove village (pt.)?

8500 Mg Llc was awarded this construction contract by Morton Grove village (pt.), as recorded on August 11, 2026. The contract value is Property sale: $1,500,000; TIF reimbursements up to $1,750,000.

How much is the 8500 Mg Llc contract with Morton Grove village (pt.) worth?

The 8500 Mg Llc contract with Morton Grove village (pt.) is valued at Property sale: $1,500,000; TIF reimbursements up to $1,750,000, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Village of Morton Grove Minutes Regular Meeting of the President and Board of Trustees 2026-08-11 (Minutes), dated August 11, 2026 from Morton Grove village (pt.). Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 8500 Mg Llc hold?

8500 Mg Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Morton Grove village (pt.) currently buying?

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