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Valparaiso city hall stock

Valparaiso City Hall.

VALPARAISO — An Illinois-based company is eyeing about 25 acres of city-owned land to purchase.

Economic Development Director Patrick Lyp wouldn't name the company, but said it has been interested in moving to Indiana for awhile.

"I'm cautiously optimistic. It is a solid prospect and would benefit the city," he said, adding the sale could be ready for action by the Redevelopment Commission at its August meeting.

Lyp said the city purchased 40 acres at the Eastport Centre business park in 2011 and later sold about 13 acres to Chester Inc.

The RDC sent out requests for proposals to sell the remaining approximate 25 acres, but received no takers. Since the land failed to sell, Lyp said law allows the RDC to negotiate with any prospective buyer for the property.

The Illinois company, said Lyp, has submitted a letter of interest to purchase the property.

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Porter County Reporter

Joyce has been a reporter for nearly 40 years, including 23 years with The Times. She's a native of Merrillville, but has lived in Portage for 39 years. She covers municipal and school government in Porter County.