The village of Mt. Prospect is in the midst of an unusual predicament. Do you know anything of Mt. Prospect? It is a village in Cook County, Illinois about 22 miles northwest of downtown Chicago and is part of Elk Grove Township and Wheeling Township. Mount Prospect was incorporated as a village in 1917. What is the crisis? It is regarding two historic buildings in downtown Mt. Prospect that the village purchased this year and at amount of (almost) $1.25 million. These two buildings are for sale at $1 apiece right now. But there is hardly any purchaser, if the officials are believed.
This is not all. The officials are not finding a single purchaser at this throwaway price even after lots of efforts. Do you consider the downturn at the real estate market thanks to the ongoing recession as the only reason? On the contrary, there is a snag or an unforeseen obstacle. The potential buyers have to agree to move the buildings by early next year. This is indeed a great problem that is offering a great obstacle before the interested buyers. But something has to done in a flash. Mt. Prospect, as has been found, is firm to redevelop the property in the Busse Triangle, bounded by Busse Avenue, Elmhurst Road and Northwest Highway, and turn it into an entertainment district.
What were the earlier positions of these two buildings? Both of them were part of a purchase that included a vacant lot. Well, whatever it is, something has to be done to save these two properties or else in absence of fitting buyers they would be demolished in early 2009. It should be remembered that the demolition would lead to the destruction of history as well. The building that is situated at 16 W. Northwest Highway was built around 1900 while the second building, a barbershop at 30 W. Busse Ave., was built at the onset of Prohibition. Both them have witnessed historical changes and are also fine specimens of old architectures.
Persons prone to save are without resources and are therefore having sleepless nights. What will happen to these buildings?
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