Oak Park's Village Board has approved a deal to buy the former Ino's Tacos restaurant at 7100 W. Roosevelt Rd., which has been vacant for more than five years.
The Village's Office of Economic Vitality negotiated a purchase and sale agreement with the Cook County Land Bank Authority, according to the Village's OP/FYI newsletter. The Board approved the agreement this fall, the newsletter said. It did not include the purchase price.
The Village is in the midst of a 90-day due diligence period. The Office of Economic Vitality has engaged an architect to prepare renderings for the property and create a redevelopment vision. The newsletter did not name the firm.
Separately, the Village received a grant from the Northern Illinois Transit Agency, formerly the Regional Transportation Authority, to study transit-oriented development at the former Mohr concrete site along Harlem Avenue in southwest Oak Park. Experts from the Urban Land Institute (ULI) will prepare a report identifying the best use of that property, according to the newsletter.
