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player ready...The Forest Preserve District is expected to approve paying nearly $17.6 million for about 408 acres.
Nearly all of the land consists of wetland/flood plain near Governors State University in University Park. The forest district, which is expected to authorize the purchase on Thursday, would use the land to protect Thorn Creek and its headwaters north to the Cook County line, said Michael Pasteris, executive director of the district.
The purchase proposal calls for paying about $40,000 an acre or $15.4 million for 388 of the acres. The agreed-upon price for 71 of the acres is 23 percent above district appraisals, while the agreed-upon price for 143 other acres is 16 percent higher than district appraisals. Robert E. Kenny Jr. of Oak Lawn owns both properties.
Ferrari Family Limited Partnership of Scottsdale, Ariz. owns the remaining 174 acres purchased at the district’s appraised price.
District Commissioner Don Gould (R-Joliet) questioned the wisdom of spending $15 million of the district’s remaining $80 million on one project. “I think it’s certainly worth taking a ride out there and taking a look at this property to see if it’s that critical,” Gould said.
The most expensive potential purchase per acre is 5 acres in Crest Hill with a selling price of $1.15 million. The $230,000-per-acre acquisition would enable the forest district to expand Lockport Prairie Nature Preserve and protect environmental factors important to the Hine’s emerald dragonfly, Pasteris said.