County settles circuit clerk building sale

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GENEVA – After two years of negotiations and costly litigation, the county soon will be the owner of the Circuit Clerk’s Office building in St. Charles.

On Tuesday, the County Board agreed to an asking price of $6.3 million for the former Montgomery Ward building, located on Randall Road.

According to attorney Scott Day, who represented the county in a lawsuit surrounding the sale, the building was appraised at $5.7 million two years ago. He said this final price represents fair market value for the property. It also represents, he said, “very, very significant movement” on the side of the New York-based owners, Rockward Associates.

Since the county’s lease ran out in 2007, it has been maneuvering to purchase the building, but the two parties disagreed on its value, resulting in two years of “litigation, discovery and extensive research of market data,” according to a county resolution passed Tuesday.

Initially, Rockward Associates was asking $13.3 million for the property – $7.5 million more than the county believed was its fair cash value. 

“It’s been two years of working with them [Rockward], going through the evidence,” Day said. “And after all that work they significantly adjusted the price.”

The county has spent $216,000 in legal fees over the two-year period, according to information presented at Tuesday’s meeting.

Board chairwoman Karen McConnaughay said now that the two sides have reached an agreement, the board can begin thinking about future use of the property.

One popular idea, she said, is transferring traffic court to the site, which would alleviate crowding and parking problems at the judicial center, where it is currently run.

“But,” McConnaughay said, “we need to analyze which options give us the best opportunity.”

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