The Oak Park Board of Trustees approved spending up to $141,425 to demolish the former Car-X Tire & Auto building at 700 Madison St.
The expenditure will be paid for out of Madison Street Tax Increment Finance (TIF) District funds. The village also used $1.3 million in TIF funds to purchase the property in 2017.
The demolition project was put out for public bid, and the village chose Delta Demolition to perform the work.
The village purchased the property and is paying for the demolition to make way for a larger project at the corner of Oak Park Avenue and Madison Street.
The village has sought bids to redevelop the village-owned parking lot on the northeast corner of Oak Park and Madison, adjacent to the Car-X property, but has not yet announced a preferred developer.