The Village of Monee these days appears to have significant interest in the real estate market. Nearly every board meeting agenda in recent months has an Executive Session notification for yet another purchase of property.

The January 22 meeting, for example, has one: “The purchase or sale of real property for the use of the public body, including meetings held for the purpose of discussing whether a particular parcel should be acquired or sold (PIN#’s 21-14-17-102-032-oooo, 21-14-17-402-038-oooo, 21-14-21-100-011-oooo, 21-14-17-402-011-oooo).

Most often there is no other information about the location or price of the property or its eventual purpose in the village. While it all seems a bit taciturn, there is a reason for that.

Monee Village Administrator Ruben Bautista said he was happy to address “questions and interest in the village’s strategic thinking with recent real estate acquisitions.”

But, no, additional specific information won’t be happening for a while.

“At this time,” he explained, “it would be premature to disclose specific property locations, purchase prices, or intended uses. Sharing this information could potentially:

  • Increase property values. Drawing attention to a property could lead to inflated asking prices.
  • Disclose strategic intentions. Revealing our intentions could alert neighboring communities and potentially attract unwanted interest.
  • Premature disclosure might weaken our negotiating position.”

However, Bautista offered to provide some general information about the village’s acquisition strategy. 

“We are actively seeking to:

  • Establish a buffer zone. Acquire properties around the potential airport site to protect our community’s interests.
  • Expand the village’s footprint. Purchase properties to expand our borders and accommodate future growth.
  • Attract new businesses. Acquire properties in foreclosure or tax-delinquent status to revitalize areas and attract new economic development(s).
  • Generate revenue. Quickly resell properties to generate revenue for the village.

“One of the properties we are considering is suitable for residential development, while the other two are ideal for commercial use,” Bautista added. 

“Once the negotiations are finalized, we will be happy to share more specific details about the properties, prices, and our plans for their development.

“I think this approach that the mayor’s administration has made is wise and calculated. I liken it to a chess match, with each move made weighing every potential risk, benefit, and subsequent countermoves.”