Two parcels of Gordon Park totaling 2.82 acres finally were sold at auction this afternoon by the Park District of La Grange. The successful and only bidders present were representatives from Atlantic Realty Partners (ARP), who plan to include the parkland in a redevelopment of the former Rich Port YMCA property, which adjoins the parcels.
Whether or not the Georgia-based developer ever takes title to the parcels remains in question as a legal battle plays out in Cook County circuit court, wherein La Grange resident Orlando Coryell seeks to prevent the sale of the parkland.
Representatives of Sheldon Good & Co. conducted the auction, which was held in the banquet room of the park district's recreation center. The proceedings were short and perfunctory, lasting only six minutes.
Alan Kravets, Sheldon Good's president, described the parcels and briefly reviewed the terms of sale, which included a stipulation that no closing date could be scheduled before March 1, a requirement imposed by Cook County Judge Leroy K. Martin Jr., who is hearing the lawsuit. There was, however, no mention of the lawsuit itself.
Auctioneer Bruce Sayre then summarized ARP's bid as follows:
- $4,555,866 in cash;
- Excess fill dirt up to 46,000 cubic yards;
- Reimbursement of professional fees and development costs up to $125,000; and
- Miscellaneous additional in-kind services.
After receiving acknowledgment from ARP representatives that its bid had been accurately summarized, Sayre declared the auction closed and awarded sale to ARP, conditioned on formal acceptance of the bid by park commissioners at their next regular meeting, Jan. 15.
Ben Curran, ARP's director of development, declined comment after the auction. "We're going to not comment right now until the park district's process is complete," he said.
Commissioners likely will approve the bid with little if any discussion as the details already had been formalized and agreed to in a contract between the park district and the developer last September, even before the Nov. 4 public referendum in which voters authorized the sale.
"When [the contract] is accepted by the park district it will be made available to the public," Robert Bush, attorney for the park district, who was its sole representative at the auction. Not one of the five park commissioners was in attendance, nor was Executive Director Dean Bissias.
Village resident, Jim Boo, who is seeking election to the park district board in April, observed the proceedings from the audience. He left immediately afterwards without comment.
"I'm neither surprised nor not surprised," Bush said, regarding the fact that ARP was the auction's only bidder. "It was a public auction, so I'm never surprised one way or the other."
One of the counts in Coryell's lawsuit alleged that today's public auction was more accurately a private sale, claiming that ARP had an unfair advantage over other potential bidders. In 2007, the park district awarded the developer a contract to purchase the same park parcels. While that attempt to sell the parcels directly to ARP was blocked by a court ruling last June, that earlier sale contract allowed the ARP to obtain a rezoning of the parkland for its exclusive use to build a major residential and commercial development known as La Grange Place.
Although Judge Martin dismissed that count Monday, along with two of the three other counts contained in the lawsuit, the judge indicated that he did not necessarily dismiss the notion that ARP had an unfair advantage, but that Coryell's attorneys had not properly argued the count.
Attorney Tom Beyer, who represents Coryell, said earlier today he plans to revise that count for the court in an amended complaint, which also likely will contain at least two new counts. Neither Beyer nor his co-counsel, Mark Wohlberg, attended the auction.
Attorneys for both sides also are preparing arguments on the one count that was not dismissed, which alleges that the sale should not occur because park officials did not properly follow procedures outlined in the Illinois Park District Code for holding the referendum.
Judge Martin scheduled a status hearing for Jan. 26.
POSTSCRIPT: Richard Aaronson, president of Atlantic Realty Partners, tells The Doings newspaper he is "cautiously optimistic" that the La Grange Place development will move forward after winning Thursday's auction to purchase two parcels of Gordon Park. Link to that story.