Bill Text: IL SB1267 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Creates the Disposition of Big Box Property Act. Defines "big box property" as property located in the State consisting of one or more property identification numbers under common ownership that contains at least one building of 30,000 square feet or more. Provides that the owner of a big box property shall provide written notice of listing the property or entering into a contract for sale of the property to the corporate authorities of the municipality in which the property is located within 7 days of the property first being listed for sale or under contract for sale. Provides that the notice of the contract for sale shall include the identity of the purchaser, the terms of the sale, and the intended use of the property after the transfer. Provides that the municipality has the right to purchase the big box property within 60 days of receipt of the notice, on the same terms as contained in the listing or offered to any purchaser. Provides that the municipality may require the purchaser of any big box property to maintain the current use or similar commercial operations of the building, and if the purchaser fails to do so, the municipality may exercise the authority to purchase the property at the same purchase price as paid by the purchaser. Provides that the municipality in which the big box property is located may impose a fine not to exceed $750 per day on the owner of a big box property who is in violation of the Act.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2023-03-21 - Added as Co-Sponsor Sen. Dale Fowler [SB1267 Detail]

Download: Illinois-2023-SB1267-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB1267 Introduced 2/3/2023, by Sen. Donald P. DeWitte SYNOPSIS AS INTRODUCED:
New Act
Creates the Disposition of Big Box Property Act. Defines "big box property" as property located in the State consisting of one or more property identification numbers under common ownership that contains at least one building of 30,000 square feet or more. Provides that the owner of a big box property shall provide written notice of listing the property or entering into a contract for sale of the property to the corporate authorities of the municipality in which the property is located within 7 days of the property first being listed for sale or under contract for sale. Provides that the notice of the contract for sale shall include the identity of the purchaser, the terms of the sale, and the intended use of the property after the transfer. Provides that the municipality has the right to purchase the big box property within 60 days of receipt of the notice, on the same terms as contained in the listing or offered to any purchaser. Provides that the municipality may require the purchaser of any big box property to maintain the current use or similar commercial operations of the building, and if the purchaser fails to do so, the municipality may exercise the authority to purchase the property at the same purchase price as paid by the purchaser. Provides that the municipality in which the big box property is located may impose a fine not to exceed $750 per day on the owner of a big box property who is in violation of the Act.
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A BILL FOR
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AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short title. This Act may be cited as the
Disposition of Big Box Property Act.
Section 5. Definitions. As used in this Act:
"Big box property" means a property located in the State
consisting of one or more property identification numbers
under common ownership that contains at least one building of
30,000 square feet or more.
"Corporate authorities" has the same meaning as provided
in subsection (2) of Section 1-1-2 of the Illinois Municipal
Code.
"Municipality" has the same meaning as provided in
subsection (1) of Section 1-1-2 of the Illinois Municipal
Code.
Section 10. Notice requirements.
(a) The owner of a big box property shall provide, by
certified mail, written notice of the possible sale of the big
box property to the corporate authorities of the municipality
in which the property is located within 7 days of the property
first being listed for sale.

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(b) The owner of a big box property shall provide written
notice of a contract for sale to the corporate authorities of
the municipality in which the big box property is located
within 7 days of the property being under contract for sale.
(c) The notice of the contract for sale to the
municipality shall include the identity of the purchaser, the
terms of the sale, and the intended use of the property after
the transfer.
Section 15. Rights of parties.
(a) A municipality in which the big box property is
located has the right to purchase the big box property within
60 days of receipt of notice that the property is listed for
sale, or under contract for sale, on the same terms as
contained in the listing or offered to any purchaser. The
municipality may also substitute a purchaser that intends to
maintain the use of the property or an alternate use
acceptable to the municipality.
(b) The municipality in which the big box property is
located has the right to enjoin the sale of the big box
property for up to 60 days if the notice of the contract for
sale reveals a change in the use of the property. The
municipality is entitled to extend the initial 60-day period
one time for up to an additional 60 days for the purpose of
securing funds for the purchase or an alternate purchaser.
(c) The municipality may require by ordinance that the

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purchaser of any big box property maintain the current use or
similar commercial operations of the building, and if the
purchaser fails to do so, the municipality may exercise the
authority to purchase the property at the same purchase price
as paid by the purchaser.
(d) The municipality may require by ordinance that the
purchaser provide an agreement secured by a bond providing for
the demolition of the building and stabilization of the site
if the purchaser ceases operations or abandons the property.
(e) The owner of the big box property is entitled to a
rebate of the municipal real estate taxes incurred, if any,
during the period of the injunction provided for in this
Section. The taxes shall be rebated as expenses for economic
development pursuant to Section 8-1-2.5 of the Illinois
Municipal Code.
Section 20. Penalties. The municipality in which the big
box property is located may impose by ordinance a fine not to
exceed $750 per day on the owner of a big box property who is
in violation of this Act.