Tag: KMart

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MacArthur TIF; interest reported in Kmart building Jul 14, 2011

TIM LANDIS
THE STATE JOURNAL-REGISTER

Two Springfield aldermen want to move quickly to create a tax increment financing district to improve blighted areas of MacArthur Boulevard. There still is the question of cost and winning city council approval, Ward 7 Ald. Joe McMenamin and Ward 6 Ald. Cory Jobe told the Macarthur Boulevard Business Association on Thursday.

But they said developer interest in the boulevard has picked up — including an out-of-state developer who is interested in the former Kmart building — and TIF incentives could help that momentum continue.

“It’s very important that we move quickly with a TIF along MacArthur,” McMenamin said.

Continue reading “MacArthur TIF; interest reported in Kmart building Jul 14, 2011”
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Springfield alderman taking aim at dilapidated signs

By JOHN REYNOLDS (john.reynolds@sj-r.com), THE STATE JOURNAL-REGISTER
Posted Jun 18, 2011

Getting rid of dilapidated signs is the aim of an ordinance being sought by Ward 7 Ald. Joe McMenamin.

Old KMart sign on MacArthur Boulevard in Springfield, IL after
Old KMart sign on MacArthur Boulevard in Springfield, IL after
Old KMart sign on MacArthur Boulevard in Springfield, IL before

Currently, city code requires that a landowner remove advertising panels from a free-standing sign within 90 of the business’s closing. The frame that holds the panels can remain. “That leaves behind the skeletal frame and the pole the frame is on,” McMenamin said. “The frame is left up. What then happens is that years can pass. The frame is ugly, and it’s really an eyesore.”

Several options

McMenamin is looking at more than one option to solve the problem.

One proposal would require the framing be removed within three years of the business closing. The pole could remain. Another possibility would be to leave the panels on the frame, but cover the advertising within 90 days of the closing. That way, the skeletal framing would not be exposed.

‘Residue of past’

Removing old signs was one the issues that came up during McMenamin’s city council campaign this spring. One of the examples he noted was the sign at the old Kmart on MacArthur Boulevard. The skeleton of the frame stood in the parking lot for seven years after the store closed. He talked to the owners of the property, and with the help of the Ace Sign Co., the dilapidated framing was removed after the April election.
“A frame skeleton tends to look ugly. It has the appearance of neglect and decay. If neighborhoods have pride, they would rather have the frames come down. It’s like a residue of the past that is unpleasant to look at,” McMenamin said.
…

Maybe this summer

McMenamin said he is in the process of drafting the new ordinance. He is open to suggestions, which can be made by calling him at 787-2297.

If all goes as planned, the proposal could come before the city council for a first reading by the end of July, and a final vote could be taken in August.

Read the full story at the SJ-R…

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MacArthur Update – Public Works update

MacArthur Boulevard Business Association – Government Update June 7, 2011
Carol Kneedler

Joe McMenamin, Alderman, Ward7

Joe mentioned that the owners of the previous Kmart building plan to come to Springfield in June. He said he conducted a ride around Ward 7 with the new Public Works Directory Mark Mahoney and is researching use of sweepers and water tank trucks to keep streets & sidewalks cleaner. He intends to keep constituents informed of upcoming ordinance votes and to let MBBA and other neighborhood groups comment on ordinances. Joe will officially open his constituent’s office in South Side Christian Church every Monday night from 7:30 to 9pm and every Saturday morning from 10:30 to noon. The starting date is to be determined. Constituents will be welcome to stop in and talk with Joe.

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Owners of former Kmart seek meeting with city officials

By TIM LANDIS (tim.landis@sj-r.com), THE STATE JOURNAL-REGISTER
Posted May 12, 2011

A face-to-face meeting between city officials and the owners of the former Kmart on MacArthur Boulevard is the latest plan to revive the long-unused property. An executive with TLM Realty in New York said Thursday the company hopes to have the meeting next month. “We either want to sell it or redevelop it. Our preference is to redevelop it,” said TLM vice president Laura Hackel. Hackel said “everything” would be on the table, including the possibility of city economic incentives to redevelop the building. “We’ve had that property too long,” she said. Hackel added that company representatives waited until after the April municipal elections to seek a meeting.

Other than special events, the property has been vacant since the Kmart store closed in April 2003. The condition of the building has been a focus of the MacArthur Boulevard Business Association since the group was formed nearly five years ago. There also have been periodic complaints about graffiti, loitering and debris dumped in the parking lot or near the building.

The owners recently approved removal of the old Kmart sign, and Hackel said the company has had discussions with association members on ways the property could fit into MacArthur Boulevard redevelopment plans. “We don’t like it being vacant any more than you do there,” Hackel said. “We want to revive MacArthur Boulevard as a retail center again.”

Two Springfield City Council members said Thursday they are encouraged about the possibility of progress.
Jobe and Ward 7 Ald. Joe McMenamin, also elected in April, updated an association membership meeting on Thursday. McMenamin’s ward includes much of the MacArthur Boulevard corridor. “They said they want to come in June, and I expect that is going to happen,” McMenamin said at the meeting.

Fair market value

Other than special events, the former Kmart building at 2115 S. MacArthur Blvd. in Springfield has been empty since the retailer closed in 2003. Developers and local commercial real-estate specialists say the redevelopment cost or sale price would be determined by the eventual fate of the property.

However, here is the property’s fair market value since 2003, as estimated in Sangamon County property-tax records:

  • 2010: $2,399,991
  • 2009: $3,675,585
  • 2008: $3,601,041
  • 2007: $3,527,322
  • 2006: $3,633,351
  • 2005: $3,500,001
  • 2004: $4,156,590
  • 2003: $4,036,698

Read the full story at SJ-R.com…