Council approves sale of 71-73 West Chicago
COLDWATER — In a special meeting Thursday evening, the city council authorized the sale of 71-73 West Chicago to Ibrahim and Khalil Abdullah for $80,000.
Mayor Tom Kramer said rather than wait until the next regular council meeting on Nov. 13, the buyers wanted to close the sale as soon as possible.
Abdullah’s offer was the highest of four for both buildings listed with realtor Jami Lind of the Hauska Home and Farm Agency.
Kramer said the proposed use would be a Mediterranean deli, grocery, restaurant concept.
The buyers own and operate the Fort Wayne Halal Meat & Grocery along with Almadina Foods and Jerusalem Bakery and Grill in Fishers, Indiana.
“They graduated from Coldwater High School,” Kramer said.
It wasn't the only offer on the properties.
Ryan Kinsey upped his offer to $81,000 on Oct. 9. Council members took no action. He had planned a barbershop with second-floor apartments.
In June 2022, developer Chad Marsh signed a contingent $20,000 sales contract to turn the two buildings into an entertainment bar and restaurant with upstairs apartments. He abandoned his plans this summer.
The Richard A. Kerr family sold the two two-story attached buildings to the city in 2018, then returned the purchase price as a tax write-off.
On Sept. 25, the council turned down a $10,000 offer from neighboring Kerr Building developer Jennifer Wingard.
Council members wanted to recoup at least its $20,000 asbestos cleanup cost from the gifted buildings.
Kramer said the council owed it to taxpayers to get the best offer. The market value was estimated at $70,000.
On Thursday, councilman Travis Machan urged the city to dedicate the sale proceeds to further downtown development.
The mayor and council sold the building without a development agreement to control its use.
Kramer said of development agreements, “You can do all these grandiose conditions. When the buyers get a loan and your second behind a $300,000 bank loan, development agreements are hard to enforce.”
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Contact Don Reid: dReid@Gannett.com.
This article originally appeared on Coldwater Daily Reporter: Coldwater City Council approves sale of 71-73 West Chicago
