WOODRIDGE – The Village of Woodridge has reached a $2.25 million settlement agreement to acquire the Janes Avenue Shopping Center.
On Dec. 12, the Woodridge Village Board voted to approve the settlement for the four-acre shopping center at the northeast corner of Janes Avenue and 83rd Street.
Acquiring the rights to the shopping center allows Woodridge to contribute the property to the development of an athletic recreation center, which will be built and financed by the Woodridge Park District.
The village anticipates taking possession of the center in early 2014 and plans to assist the existing businesses with relocating by April 30.
The village originally filed for condemnation when they weren't able to agree upon a price value with the property owners back in February. The approval of this settlement allows the parties to avoid trial and legal fees, according to a news release from the village.
"We are pleased that we could come to an agreement with the owners of the shopping center that is both fair to the property owners and Woodridge taxpayers," Mayor Gina Cunningham said in a press release. "We look forward to working with the park district to redevelop this gateway to the community. This effort will continue the community’s goal of neighborhood reinvestment along Janes Avenue and provide a needed recreation facility for community residents."
More information on the project can be found online at www.woodridgeparks.org.