Possible developer to take over Woodstock’s Die Cast site

The city of Woodstock took another key step in developing the former Die Cast site in its downtown, granting site control to the potential developer.

In a resolution passed at its City Council meeting last week, Woodstock will allow Chicago Hubs Realty a six-month period to complete needed due diligence at the site before it enters into a formal development agreement with the city.

That due diligence will include finalizing the design and financing before bringing it to the Woodstock City Council for a final decision, city material states.

Mayor Mike Turner clarified the agreement does not equal a development agreement, adding the company will still have to go through the city’s approval process before anything is final.

If a formal agreement is reached, city officials expect it to come before the six-month period is over, city documents state. That agreement, in addition to outlining the development set to go at the spot, will lay out incentives, budgets and timelines, among other items.

Chicago Hubs Realty has proposed a development that will consist of almost 400 living units and about 25,000 square feet of commercial and retail space at the old Die Cast site, city-owned property located on the west side of Clay Street and north of Church Street.

Two residents spoke at last week’s meeting, including City Council candidate Mark Indyke. Indyke didn’t come out against the proposal, but instead voiced concerns over the possible impact to the environment and traffic.

“I think the immediate economic impact will be greatly beneficial to our city,” he said. “What I’m concerned about is 10 years down the road.”

Turner and council member Gordie Tebo said those kinds of questions will be addressed as the company goes through the city’s approval process. Council member Bob Seegers said due diligence is important, but he does not want to put “roadblocks” in front of the developer.

“This property has sat worthless to the city,” he said. “Impeding this development would be financially foolish for the city. … It’s going to fill a black hole, and I still think it’s the right thing to have happen.”

The company was one of three considered for a proposal at the site. In early November, the three companies, which also included PanCor Construction and Hoffman Planning, Design and Construction Inc., each made a pitch to the Woodstock City Council.

PanCor proposed a 46-unit apartment complex and Hoffman pitched a $157 million spread that included a hotel, a series of apartments and two different parks.

While city officials opted to go with Chicago Hubs Realty at a meeting in mid-November, they held the door open to possibly work with either PanCor or Hoffman on different projects, or other areas of the Die Cast site.

Economic Development Director Garrett Anderson said last Tuesday that Chicago Hubs Realty has been in contact with PanCor to help strengthen the look of their proposal, as city council members said they liked PanCor’s design style best out the three.

Turner at the Dec. 20 meeting stressed the need for any development at the site to look good or he and others would possibly vote against it.

“This has to look good,” he said. “They’ll be held to a high standard.”

The Die Cast site has sat mostly vacant for the last quarter century, and in its early history, was a series of factories that made typewriters and then eventually auto parts.

Part of the site hosts a series of townhouses, which arose from a plan in the mid-2000s until the 2008 financial crisis caused the plan to fall through. The city bought the property in 2020.