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Mt. Prospect Redevelopment

Mount Prospect, IL: (Apr-02-08) Mount Prospect, IL brought an eminent domain lawsuit against the Meersman family, who own three properties, 30 W. Busse Ave., where a hair salon operates, 34 W. Busse Ave., the site of a parking lot and 16 W. Northwest Highway, the Meersman law offices.

Sources on both sides stated that as part of recent negotiations, the Mount Prospect village board agreed to withdraw its eminent domain proceedings against the family and will pay a $1.275 million settlement for the properties that are slotted to be part of a downtown redevelopment project. Additionally, under the terms of the settlement agreement, Mount Prospect will pay attorney fees and moving expenses up to $175,000. Sources stated that the resolution was reached despite Trustee Paul Hoefert's dissension, who said that the property was not worth as much as the village is paying. [DAILY HERALD: MT. PROSPECT REACHED SETTLEMENT WITH MEERSMAN FAMILY]


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Published on Apr-3-08


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