Village of Matteson partners with Cook County Land Bank Authority to redevelop former Auto Mall Deal
The Village of Matteson and the Cook County Land Bank Authority have partnered to seek a prospect for the redevelopment of a former auto dealership. The partnership with Cook County Land Bank (CCLB) gives the Village of Matteson the ability to control the back filling of the space. The CCLBA acquires property that has become stagnate in the community due to abandonment, foreclosure or delinquent property taxes to promote redevelopment and reuse of property in an effort to stabilize neighborhoods.
The CCLBA will eliminate more than $2 million dollars in delinquent back taxes to help spur redevelopment efforts. This partnership enables a prospect to acquire the property free of back taxes creating an immediate savings and incentive to the prospective buyer. The Village is also willing to entertain additional incentives for a desired end-user that meets the goals and vision of Matteson. The 33,687sq. ft. two-story building is zoned mixed-use. The Auto Mall is comprised of 110 acres adjacent to I-57 at Lincoln Highway. The Auto Mall is home to some of the area’s top-selling auto dealers which carry a wide selection of both new and pre-driven vehicles. The Auto Mall is one of the largest campus style auto malls in the United States. For more information on the site click here.