120 N River Rd
Algonquin, IL 60102
Land For Sale · 2.70 AC

TIF District: Subject property is in the Algonquin Downtown Redevelopment District which is a $75 Million 5-plus year complete redevelopment of the downtown area consisting of all new underground utility work, new streets and streetscapes, acquisition of blighted properties, etc. The intention of this redevelopment is to attract new businesses to revitalize the district. Subject property is a recipient of the huge benefits of this TIF district for reimbursement of TIF eligible costs such as mass grading, street improvements, underground utility costs, most site preparation costs and most importantly, residential impact fees. USACE Authorized Piers and Boat Ramp: Subject property has (17) authorized multi-user piers which can accommodate (34) boat slips and (1) authorized boat ramp by the US Army Corps of Engineers, Chicago District. These piers and ramp are limited, cannot be increased, and are available to trade in the Stratton Dam (Algonquin) to the Wisconsin border area. These grandfathered piers and boat ramp are very valuable and can only be obtained by purchasing the rights from another authorized owner.