LAKE BLUFF — There’s a new owner for a major portion of Block 3 in downtown Lake Bluff, and the planned use has shifted from a large development to finding a single business to operate in the building once occupied by PNC Bank.
Bill Mass of Arlington Heights-based Mass Realty, said the new owner is looking for an enterprise in search of an office or possibly a retail use after purchasing part of the property from the previous owner late last year.
“The idea is to repurpose the building to office or retail use,” said Mass. “It could be someone who needs an office. It could also be a retail or restaurant use. We’re not looking to tear it down. We’re looking for a new tenant.”
Mass said his client bought westernmost two lots of the three-lot parcel bounded Scranton, Oak, North and Evanston Avenues. The property containing the parking lot which is further east is not part of the new owner’s land.
The property has a one-story building containing 3,700 square feet on the ground floor and another 2,300 square feet below grade, according to Mass. There are 25 spaces to park cars in the immediately adjacent parking lot. He said the former owner retained title to the easternmost parking lot.
There are no plans to demolish the existing building and replace it with a three-story 16-unit condominium project like one developer wanted to do over a year ago. The developer, The Roanoke Group, decided not to go ahead when the Village Board of Trustees imposed a two-story height limit in September, 2016, according to a DailyNorthShore.com story.
“That owner ran into a lot of obstacles,” said Mass.
Mass said the goal of the new owner is to find a business to occupy the building within the current zoning code.
When Roanoke and before that another developer sought the necessary zoning changes and board approvals for a large condo project, there was also fierce opposition from residential neighbors, according to previous DNS reports.