BYUS Construction building to be obtained through transfer of deed
Park Forest, IL–(ENEWSPF)– At its Rules Committee Meeting on November 2, the Park Forest Village Board will discuss a proposal to accept a Deed in Lieu of Foreclosure on the building in Downtown Park Forest owned by BYUS Construction.
The building is in arrears on its property taxes and is in a state of disrepair. Substantial water damage occurred last year when the fire-supression system pipes burst during an extremely cold spell. In the recent past, the building housed Changes Coffeehouse & Bookstore, Hero’s Hoagies and Ice Cream, Rosemoor Stamp & Coin, and several restaurants. It was purchased by BYUS Construction Co., a Markham-based firm, in 1999.
The building has been completely vacant for more than a year.
In addition to the property taxes that are owed on the building, the owners also have failed to pay assessment fees to the Village. At present, more than $75,000 is owed. The transfer of deed will allow the Village to move forward on having the building demolished because of "the unsafe condition of the property," according to Larrie Kerestes, Park Forest’s director of community development.
Legal procedures for the transfer of title have been worked out by the Village’s attorneys.