Former Bear Richard Dent's company has scooped up a vacant industrial building in Park Forest, apparently to turn it into an energy research center.
Dent LLC is expected to pay $11 million for the 100,000-square-foot building at 80 North St., according to the Chicago Sun-Times. The village board sold the property, which previously sat vacant for several years, to the company for $750,000.
Village officials told the paper the building will be named the Great Lakes Center for Energy Smart Communities and will be used to develop new energy technologies and install them in local homes.
The agreement, approved Monday night, will allow Dent to recoup $500,000 from the village if he spends $1million in renovations by June 30.
As many as 50 new jobs could be added in the center's first 1-1/2 years, according to Dent LLC.
Village officials say they hope the agreement will draw more companies to Park Forest's industrial park.