Village and city officials in McHenry County are evaluating their options after being notified that the Union Pacific Railroad is looking to sell the land surrounding a number of its northern Illinois commuter stations.
In a letter to municipal officials, Metra said Union Pacific sent the commuter railway a notice that it had entered into a master agreement with an unnamed developer to sell some or all of the 41 train station properties for about $50.9 million.
“While it reflects a master contract for 41 stations, the notice is clear that the developer may elect to not purchase individual stations,” Metra said in the letter.
McHenry County stations that could be affected are in Crystal Lake, Cary, Woodstock, Harvard and McHenry and Fox River Grove.
Metra is willing to enter into an intergovernmental agreement with municipalities to purchase the station and transfer ownership back to the town, Anthony Ognibene, director of real estate and contract management for Metra, said in the letter. The municipality would have to finance the cost of the acquisition.
“Please be aware that time is critical,” Ognibene wrote, noting that municipalities would need to enter into the intergovernmental agreement before Nov. 12.
Right now, Crystal Lake is evaluating the information it received from Metra and weighing the city’s options, Crystal Lake Assistant City Manager Eric Helm said.
“We recently received the information,” Helm said.
Read more here.
Related: “Mount Prospect train station, dozens more could be sold”
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