This Elmhurst Business Will Be Demolished: City
ELMHURST, IL — The plans for the businesses at a key Elmhurst intersection were divulged in a city memo Thursday.
The memo was about Napleton Kia of Elmhurst’s proposal to move from Lake Street and Grand Avenue to the northwest corner of State Route 83 and North Avenue. It said the dealership would sit on 4 acres on the eastern part of a nearly 9-acre site.
The memo stated the Goodwill Store, which is near the corner, is staying because of lease commitments. It also said the neighboring Diplomat West Banquets would be demolished for a “future unknown project.” No other information was made available about Diplomat West. The business couldn’t be reached for immediate comment.
One of the biggest challenges for Napleton would be drainage. It is proposing a concrete deck for customer, employee and inventory parking, which would be raised above the flood plain, according to the memo.
Because of the flooding issue, Napleton is asking the city for a sales tax incentive for up to $6 million over 20 years. The city and Napleton would split sales tax proceeds 50-50.
The $6 million, the city said, would cover the costs of stormwater improvements. The total project is expected to cost nearly $21 million.
Now, Napleton Kia is on the same site as Napleton Acura, but the property is no longer large enough to operate both, the memo said.
The City Council’s Finance Committee is set to discuss the proposed agreement with Napleton at its meeting Monday. Under its terms, if Napleton Kia moves away or closes within 20 years, it would be required to pay back any of the sales tax money.
These days, the dealership is reporting $75 million in gross annual sales. At the new site, it aims to increase that number to $81 million to $130 million.