World of Beer seeking extension
The developers of the potential World of Beer site in Berwyn are asking for an extension of their work timeline.
According to a public memo between the Berwyn Development Corporation and the city, the developer is seeking an extension of deadlines previously set forth in the redevelopment agreement due to a delay at a different World of Beer location currently being constructed in the Chicago area.
Under the revised agreement, the developer will have until Nov. 15 to hire an architectural firm to perform the plans and drawing for the site, located at the southeast corner of Cermak Road and Oak Park Avenue.
The developer would then have until Dec. 31 to submit those plans to the city for approval.
The agreement also stipulates that the developer must put up $25,000 in “earnest money.” If the developer fails to meet the requirements of the revised agreement, that money would be forfeited to the city.
The city agreed to sell the historic bank building on that site to the developers this summer for just $10.
The measure is slated for an up-or-down vote at tonight’s City Council meeting, which takes place at 8 p.m. at City Hall.