Elgin will pay nearly $60,000 to have asbestos materials, carpeting and tile removed from the shuttered NBD Bank building downtown before a planned demolition later this year.
The Elgin City Council recently voted unanimously to award the contract to the low bidder, Chicago-based L&C Europa Contracting Co. Environmental regulations require that asbestos-bearing materials be removed before the building, at 6 S. Grove Ave., can be razed.
The building sits on a prime piece of riverfront property that is integral to the development of downtown Elgin. The structure has been vacant since mid-1996 and has been a concern to city officials who seek to spruce up downtown’s image.
The city wants to demolish the structure to make way for development or at least an expanded parking lot that would help create a bustling downtown area. Removal of the asbestos should be done in the coming weeks, clearing the way for demolition.
“The city was interested in controlling that parcel so that we could have influence over how it’s developed,” said Elgin spokesman Eric Stuckey. “But we haven’t made any decisions about what will happen with it.”
The building was constructed in the early 1900s and was once occupied by the Elgin National Bank.
NBD moved out of the building in mid-1996 following the merger of its Detroit-based parent company and First Chicago Corp. There already was a First Chicago bank just north of the NBD building.
In fall 1997, Kane County paid $265,000 to buy it and to cover related expenses. Kane sold it to Elgin for that amount last March after county officials decided against turning the building into a satellite center for health and other governmental services.
Deborah Nier, a former director of New Century Partnership, a downtown Elgin merchants group, said that, while vacant, the building sent the wrong message to the public about the area’s potential. But she said the building’s demolition should help correct that impression.
Situated along the Fox River, the parcel lies in an area with a mix of commercial and office buildings. Nearby are the Chamber of Commerce offices, a marketing promotions firm, a bakery and the city’s parks and recreation offices.
In the next few months, the city will seek a bid to demolish the old structure.
Elgin Mayor Kevin Kelly said in March that preliminary plans called for creating a 55-space parking lot on the site. But city spokesman Stuckey said it was too early to determine the fate of the land. He said when the site is developed, it will play a significant role in the city’s long-term vision for downtown.
Stuckey said the city has had success convincing companies to stay or move downtown.
“We have identified the riverfront as an important resource to the community,” he said.
