Rochelle Approves Sale of Surplus Land for Hotel Development

ROCHELLE — The Rochelle City Council on Monday night approved a resolution authorizing the sale of about 2.5 acres of surplus city owned land at Technology Parkway for a proposed hotel development. The buyer, Up Next Hospitality, submitted a letter of intent to purchase the property for $2 per square foot based on the surveyed land area, for a total purchase price of $218,000. The parcels are identified as PINs 25 17 300 025 and 25 17 300 026. Under the agreement, the city will split the cost of the property plats, with the developer paying the full amount upfront and receiving a credit at closing.