It’s been eight years since Oak Forest bought a 2-acre spot of land that contained a shuttered Ace Hardware and a vacant lot. Last week, the city posted a video showing the beginning of the building’s demolition, almost a decade behind schedule.
“This undertaking by the city was a huge step in the right direction,” said city administrator Timothy Kristin.
He explained the delay has a lot to do with a deal gone bad and expressed hope for what this first step means for the community. When the city bought the building in 2016, the deal was for just under a half million dollars of which $85,000 would be provided by Mack Companies, a developer investing in the project.
But that agreement fell through, forcing a legal battle that resulted in the building at 155th and South Cicero being foreclosed. Years later, the city bought back the rest of the building from the bank for $130,000, Kristin explained.
“The developer did not fulfill his obligations as required by the RDA,” Kristin said.
When trying to find a new developer, Kristin said there were discussions with various groups but interest evaporated because the condition of the existing Ace Hardware building was so bad, including asbestos and a crumbling ceiling.
But this also worked in the city’s favor, Kristin said, because Oak Forest leaders long wanted to get rid of the building altogether to reduce urban blight and embark on a new development. Oak Forest decided to begin the tear down last week.
“This building really was a poster child for urban blight,” he said.
Kristin said the goal for development remains the same: mixed residential and transit oriented retail on the block. But that still hinges on an arrangement with a developer.
The timeline for development is also unclear. Kristin said several factors determine the timeline of a project, such as the economy, fluctuating costs of materials and interest rates.
“I am cautiously optimistic this is going to move forward,” he said. “One thing I have learned is you really can’t put a timeline on this.”
hsanders@chicagotribune.com
