City Property For Sale

OLD LEADER BUILDING

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City Of Pontiac, IL Request for Proposals to Purchase and Develop City owned buildings located in TIF District No. 1.


IMG_2392 (1)The City of Pontiac is requesting proposals from developers who may be interested in acquiring, developing and using a certain building and real estate owned by the City and located within a tax increment finance (TIF) district known as TIF District No. 1.

The City presently owns one building which is being offered for sale and which is legally described as follows:

Tract No. 1: The West 20 feet of Lot 7 in Block 43 of the Original Town, now City of Pontiac, Livingston County, Illinois. Index No. 15-15-22-426-003 Commonly known as 314 N. Main Street, Pontiac, IL 61764

The above building and real estate is situated in the Central Business District of the City and are assigned a B-2 (Central Business District) zoning classification.

Questions regarding the property and requests for appointments to examine the buildings shall be directed to:

  • Jim B. Woolford, City Administrator, 
  • City of Pontiac - 115 W. Howard Street Pontiac, IL 61764
  • Telephone (815) 844-3396 | www.pontiac.org

All proposals shall provide for the first floor of the building to be used for some retail purpose which is permitted use in the zoning district and the building, and real estate shall be conveyed by the City subject to a restrictive covenant that will run with the title requiring the first floor to be used exclusively for a retail business unless otherwise approved by the City Council of the City. Second floors may be utilized for residential purposes, but conversions to meeting all applicable codes and regulations, with particular attention to fire protection, fire separation and egress requirements, and the real estate shall be conveyed by the City subject to a restrictive covenant that will run with the title imposing the foregoing restrictions on conversions of the second floor to residential uses. Additionally, all proposals will include planned improvements to the façade. It is expected that any improvements will conform to City of Pontiac regulations. Deviating from these standards must be approved by the Pontiac City Council.

The proposal must be recieved at the below address no later than 4pm, central time, september 30, 2022. The proposal shall be sealed and clearly marked on the oustside of the proposal package "TIF 1 RFP Response". 

Said proposal shall contain the following information:

  1. A statement as to the tract identified by the tract number and the address of the building as to which the proposal is being made.
  2. Description of project being proposed and the proposed use or uses of the building.
  3. Estimated size and cost of proposed project.
  4. General schedule for project.
  5. Developer background and financial capabillity to successfully complete the project.
  6. Offer amount to puchase the building and real estate including the offer price and any other terms and conditions of the offer, if any. 
  7. Contact person.

The city also reserves the right to reject any and all proposals, to waive informalities, and to select the proposal and developer for each tract that, in the City's sole discretion, is the best fit for the central business district and is in the best interest of the City of Pontiac.

The City Reserves the right to:

  • Publicly disclose all the terms of the disposition and all bids and proposals made in response to this RFP;
  • Amend, modify or withdraw this RFP;
  • Revise any requirements under this RFP;
  • Require supplemental statements of information from any responding party;
  • Extend the deadline for submission of responses to this RFP;
  • Negotiate or hold discussions with all bidders;
  • Waive any nonconformity with this Request for Proposal; and
  • Cancel, in whole or in part, this RFP, if the City deems it is in its best interest to do so.

The City may exercise the foregoing rights at any time without notice and without liability to any bidder or any other party for its expenses incurred in the preparation of responses hereto or otherwise. Responses hereto will be prepared at the sole cost and expenses of the bidder.

The RFP does not commit the City to select a developer, to pay the cost incurred in preparation of any response hereto, or to procure or contract for the sale or lease of the land described herein. Nothing stated at any time by any representative of the City will effect a change in or constitute an addition to this RFP unless confirmed in writing by the City.