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TO: Mayor John Laesch
FROM: Patrick J. Collins, Assistant Corporation Counsel
DATE: April 28, 2026
SUBJECT:
Resolution authorizing the divestment and sale of City owned commercial property located at 1531 E. New York St., Aurora, IL 60505.
PURPOSE:
Attached is a resolution authorizing the divestment of City owned commercial property located at 1531 E. New York St. (Permanent Index Number 15-24-352-028) to 1515 New Yok, LLC. for $28,000.
BACKGROUND:
In 2016 the City of Aurora began the process of divesting City Owned property to adjacent neighbors in order to reduce our inventory of vacant land. The City expanded that divestment process to reduce the City's overall inventory of vacant buildable lots. Working with multiple City departments, including Mayor's Office, Planning & Zoning, Revenue & Collections, Financing, Property Standards, Economic Development, Engineering, Building & Permits, Public Works, Parks & Recreations, the Law Department, and Dolan & Murphy, Inc. all worked in conjunction to identify vacant buildable City owned lots to then market and sell the lots for development.
DISCUSSION:
In March 2025, the City listed the property for sale with Dolan & Murphy, Inc. for $60,000.
The City Council previously approved the sale of this property for $50,000. However, the buyer canceled the contract, because the limited size of the lot renders the parcel unbuildable. Subsequently, the City sought out the neighboring property owner for a potential purchase.
This time around, the City negotiated back and forth with the neighboring property owner and agreed to the price of $28,000, which is below asking price and appraised value. However, selling the property to the neighbor is the highest and best use for this property as no other reasonable buyer can develop the property. The buyer intends to expand its neighboring automobile dealership operations
The property is currently exempt from real estate taxes, and the City is incurring maintenance...
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