District 200 Closes on Hubble Property
District 200 closes on sale. Asbestos removal starts tomorrow and construction on the gyms will begin next week.
District 200 today closed on the sale of the old Hubble school property in Wheaton. The district accepted the offer of $5,000,200 from developer Bradford Equities, LLC last summer. Bradford plans to build a Mariano's Fresh Market on the site at the corner of Naperville and Roosevelt roads, and will begin asbestos removal at the site tomorrow, developers said. District 200 Superintendent Dr. Harris said in a statement, “We are very happy to be finally closing the sale of this property. We are looking forward to the redevelopment opportunity.” Board President Rosemary Swanson called the closing, “an important milestone for our district and its communities.” The property was scheduled to close Friday, Sept. 7, but was delayed due to a …
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Mark Stern
5:12 pm on Wednesday, September 12, 2012
This will not "ease the taxpayer burden" at all. First, most of the property won't be added to the tax rolls - it is going to be acquired by the Park District, which is exempt. Second, remember that the site for the new Hubble cost about $7.75 million, which is of course now OFF the tax rolls, so based on the sale price of $5 million, we have $2.75 million LESS in taxable property than before … more ›