Lisle Convention & Visitors Bureau Move Leaves Prime Piece of Downtown Real Estate Available

The  (LCVB) gets a new landlord this fall--the Village of Lisle.

Trustees are expected to , which allows LCVB to occupy roughly 1,000 square feet of . The move opens up 2,000 square feet of potential retail or office space at 4746 Main St., with a prime view of the downtown fountain and an entrance to .

While LCVB’s current lease extends through October, the space is listed for lease at $18 per square foot, according to Suburban Real Estate.

Subscribe to our daily newsletter to keep up with downtown updates. Don't forget to !

The piece of property comes in on the higher end of downtown lease prices, according to data compiled by the Village of Lisle for available retail spaces. Other nearby properties include:

The rent agreement will likely be approved once a move-in date is finalized, Village Manager Jerry Sprecher said in an email statement Monday.

Trustees recommended an annual $20,000 rent. A cost analysis by Village Facillities Manager Bill Glowienke set the retail value of the Village Hall space at just over $19,000 per year.

LCVB Executive Director Diane Homolka lobbied for a reduced first-year rent.

"With the new  from two of the three Lisle hotels, it is imperative that we are diligent with our marketing and sales efforts. Our intent is to allocate our cost savings and apply it to advertising and enhance the marketing of Lisle and Lisle hotels in this first crucial year," Homolka said in a letter to village manager Jerry Sprecher in March.

"After losing approximately $85,000 in Hickory Ridge tax dollars, all extra dollars saved by moving into Village Hall will be needed to battle the new Marriott."

The agreement is tentatively scheduled to begin Nov. 1 and continues through April 2015. Board members will have the option to extend LCVB's lease an additional two years at that time.

Sprecher said he and Homolka have not decided whether the rent payments will be made in monthly installments, or deducted each quarter from the hotel motel tax revenue LCVB receives.

Payments will move to the Village’s general fund. Some trustees expressed interest in using the rent to support downtown activities or special events, according to meeting memos.

More about downtown Lisle businesses: