Taxman Corp. at it again with new 
River Forest development

By ERIC LINDEN

The Taxman Corp. has interest in another economic development project in
River Forest's Lake Street corridor.

The Skokie-based company headed by mega-developer Seymour Taxman already
has worked to bring about River Forest Town Center on the southwest
corner of Harlem Avenue and Lake Street, is developing a Town Center II
project one block to the west and now wants to put up a new retail
building in another parcel of the Lake Street corridor.

Moreover, the Taxman company also developed the Shops of Downtown Oak
Park on the southeast corner of Harlem and Lake, across Harlem from
River Forest.

Under the latest development proposal, the Taxman firm would buy a piece
of property near the Jewel/Osco store at 7525 W. Lake St., then would
put up a 3,000-square-foot, one-story building that would be rented out
to more retail businesses.

"It is the strong desire of the Village that the ultimate tenants be
sales-tax-generating businesses," read a statement issued by village
government about the new development proposal. Village hall also said
potential new tenants for the Taxman building "might include any of the
following: gift/card store, ice cream shop, video store,
pick-up/drop-off cleaners, apparel/accessories shop,
photocopying/printing store, beauty salon or branch banking office."

The now-empty lot is owned by village government and is on Central
Avenue across from the railroad embankment and next to the River Forest
Animal Hospital, which is on Central Avenue, but has an address of 7515
W. Lake St. The Taxman proposal would see a masonry building go up on
the vacant site, which measures approximately 56 fee and 92 feet. The
new building would be designed to compliment the nearby Jewel/Osco
store.

The Taxman firm first got involved in River Forest about a decade ago,
when the company partnered with village government to develop the vacant
former Wieboldt department store building at the southwest corner of
Harlem Avenue and Lake Street. Village hall cleared the way for the
Taxman firm by demolishing that art deco structure, purchasing and
tearing down several businesses operating on the 7200 block of Lake
Street at the time and then developing the Town Center.

The mini-shopping mall now includes the Whole Foods Market food store;
the Boston Chicken restaurant; a Citibank branch; Petco pet foods,
Pronto Roma restaurant, Crown books, Peaches records store and
Walgreen's variety store--the last three of which used to operate at
various Oak Park locations. The Town Center has one vacancy that was
occupied by the the picture framing business Frame Art when the Town
Center opened nearly seven years ago.

In 1997, the Taxman company was solicited by Oak Park village government
officials to move east of Harlem Avenue to do a new development. Village
hall and the Taxman company partnered to develop what is now the Shops
of Downtown Oak Park. In a style similar to the River Forest moves, Oak
Park village hall also purchased and demolished several existing
businesses to clear the way for the new strip mall. The "Shops"
development includes The Gap and Gap Kids, Old Navy Clothing Co.,  AT&T
Wireless, Caribou, Long Grove Confectionery, For Eyes Optical, TGI
Friday's restaurant and Pier 1 Imports.

Then in the last two years, River Forest village hall and the Taxman
Corp. have been working on the Town Center II concept on a site bounded
by Lake Street, Bonnie Brae, Clinton Street and Central Avenue. Again,
several existing businesses have been bought and cleared out to make way
for a new retail complex. In the new plan, the Town Center expansion as
proposed would include new retail tenants and a health club to be
managed and operated by West Suburban Hospital Medical Center in Oak
Park.

Currently on the Town Center II site, though, are the Bonnie Brae
Condominiums on the southwest corner of Bonnie Brae and Lake Street.
River Forest village hall, the Taxman firm and the owners of the
condominiums have worked out a plan to tear down the existing condo
building and to build replacement condo housing in William Place
Condominiums, a building now under construction at the southeast corner
of William and Lake streets.

The latest Taxman move is decidedly less complex. Village government
bought the now-vacant property as part of its efforts at new development
throughout the Lake Street corridor, which runs on either side of Lake
Street from Harlem to Thatcher avenues. Village hall moved the River
Forest Animal Hospital from 7560 W. Central Ave. to its current location
to accommodate last year's expansion of the Jewel/Osco store.

Developers have been invited to submit alternatives to Taxman's proposal
for the vacant Central Avenue site., but given River Forest's
relationship with the Taxman firm that invitation is likely little more
than a legal requirement. Village hall similarly advertised for
alternatives to the Town Center II development, but moved quickly to
approve Taxman as the developer of choice.

All the Taxman-related moves by village governments is both Oak Park and
River Forest are paid for out of Tax Increment Financing (TIF) funds
designed to spur development and not out of general property tax
revenues.