Oak Creek is purchasing land close to the lakefront, a lot more than doubling the sizing of metropolis-owned parcels abutting Lake Michigan.

Nonetheless, it really is unclear what the city strategies to do with it.

“Right now, we do not know what the long term land use of the house (will be), and there will not be any rapid growth,” Town Administrator Andrew Vickers explained, introducing the metropolis will be conducting “due diligence” on the parcel.

Oak Creek’s popular council on Aug. 17 voted to enter into a invest in and sale settlement with Oak Creek Lakeside Land Holdings (Wispark) for 46.7 acres at 8850 S. 5th Ave., the former Peter Cooper residence named for a former glue factory on the web page.

The obtain rate is $891,000, in accordance to the agreement.

The town was needed to article $50,000 to the title organization, Chicago Title Insurance plan Company, as a deposit in three days of the agreement passing. Vickers explained the city hopes to near on the transaction inside 120 days of generating the arrangement.