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February 22, 2024
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Real Estate

Geneva offers surplus real estate for sale – Shaw Local

GENEVA – Want to buy a funky piece of real estate in downtown Geneva that is mostly flood plain and cannot be built upon?

The Geneva City Council Tuesday approved a resolution declaring it surplus property – 30,890 square feet or just under .71 of an acre.

It is part of a 1.52 acre parcel the city owns, assembled to create more parking near the train station, City Administrator Stephanie Dawkins said.

“A majority of the western portion of this real estate is in the flood plain and cannot be developed,” Dawkins said. “Therefore, we are recommending that that portion be for sale based upon the appraised value.”

The resolution allows Dawkins to negotiate the sale and provides for all interested parties to make an offer.

The City Council would take action to accept any offers, according to the resolution.

According to an email from city spokesman Kevin Stahr, D & D Associates Inc. appraised the property at $20,000.

The resolution requires that any offer to buy the property not be less than 80% of the appraisal.

Third Ward Alderperson Dean Kilburg said the property is triangular and bisected by a creek that flows northwest and southeast, goes under train tracks and drains into the Fox River by the Kane County Government Center at the Third Street and Route 31.

“The creek divides it and there was nothing the city could ever do with it,” Kilburg said. “Accessibility was also an issue.”

What led to city officials deciding it should be declared surplus property and be available for sale had to do with a resident who spoke up about yard waste that was being dumped there, Kilburg said.

“There’s two property owners who would benefit by adding it to their property,” Kilburg said. “The property owners have been made aware of it (the land being put up for sale). It would benefit the residents and it would be something the city won’t have to concern itself with any more.”

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