The Village of Lake Zurich is accepting bids to sell the following two properties which are currently owned by the Village:
32 Mionske Drive
Former house demolished in 2013
36 Mionske Drive
Former house demolished in 2019
Both lots are now empty with no structures existing on them.
The Village will be accepting bids on these lots until January 29, 2021.
- The properties are a 5-minute walking distance of the Main Street area, including several restaurants, an ice cream shop, a coffee shop, a butcher, a shoe-cobbler, Breezewald Park Beach and Beer Garden Pavilion, and the lakeside Promenade on Main Street.
- The properties are a 15-minute walking distance from the Ela Area Public Library and May Whitney Elementary School.
- The properties are also a 20-minute walking distance or an 8-minute bike ride from Lake Zurich High School.
Basic Terms of Transaction
The basic terms of the proposed transaction will include the sale of the properties by the Village to a buyer to develop the lots with single family detached homes in the R-5 Residential Zoning District (R-5 Regulations Online) of the Village of Lake Zurich.
New homes shall be required to be constructed within 24 months of purchasing the lots.
The Village would entertain the option of combining the two properties into one to facilitate a larger-single family home. This option may allow:
- a larger home commanding a greater sale price,
- could potentially reserve more open space on the combined properties for outdoor amenities such as decks, patios, etc.
- Only one water and one sanitary sewer connection needed. Saves on connection fees with the village and lake county
- Only one curb cut to the street
OR builders may avail themselves of this option and build two homes.