City secures rare downtown parcel for $305K

City Council voted unanimously May 6 to approve the purchase of a one-acre lot in downtown Elgin, a move officials say will help shape the future of development in the city center. 

The resolution authorizes the Elgin Economic Development Corporation to buy the property at 403 S. Central Ave. from DLJ Holdings LLC for $305,500 plus closing costs. The property, which sits across from the new police station and near the corner of Central Avenue and Avenue A, is viewed as a strategic investment in Elgin’s long-term downtown planning.

“This came on the market, and not very often is there a one-acre site available in downtown,” EDC Director Owen Rock told the council. “We just thought it was a good idea to get control of this right now.”