Oak Park bought the building at 1113 Lake St. from the Garcias for $350,000 several years ago when plans were in the works for redeveloping much of Lake Street in downtown. But those plans never materialized, so the Village Board voted in October to sell the building to the highest bidder for $540,000. The Garcias bid $115,000.
The Garcias claim they had a handshake deal with the village to buy back the building for $350,000 if the redevelopment didn't occur.
But there is no written proof, only letters between Oak Park and the Garcia's attorney at the time of the original sale that indicate the village disagreed with those terms.
http://www.chicagotribune.com/news/local/chi-mexican-restaurant-04dec04,0,1561680.story
I’m not picking sides, but, with always changing members a handshake deal doesn’t seem to be the way any city would do business.
Posts
No comments:
Post a Comment