Mount Prospect invites public to brainstorm on future of Chase Bank property

Mount Prospect trustees will gather ideas from the public at 6 p.m. Tuesday at village hall on the future use of the former Chase Bank property at 111 E. Busse.

The village recently voted to spend $5 million to buy the 2.15-acre property, which consists of a vacant six-story office building totaling approximately 70,889 square feet, along with a large surface parking lot.

Mayor Paul Hoefert calls the village board committee of the whole meeting a brainstorming session. Both the public and trustees will put on their developer hats to share ideas with village staff, he said.

“Do you think it should be green space? Tell us that,” he said. “Do you think there should be retail? Tell us. Do you think it should be a new building? Tell us.”

Hoefert noted Tuesday’s meeting will not be the only time people have an opportunity to provide feedback and input.

Topics up for discussion include: Demolition versus adaptive reuse; building height; possible residential uses; commercial space; open space; sustainability; transit-oriented development; and parking.

Village officials expect to begin accepting proposals from developers by March 28. However, the village needs to close on the purchase of the property.

Candidate interviews are tentatively set for June, with a developer selected by July.