Joe Stanton: Thoughts on Vacant Properties in Geneva

• Editor's note: This is the fifth in a series of articles on Geneva business and development, based on an interview with 2011 Wood Award winner Joe Stanton—Geneva businessman, landlord and developer.

It's amazing what a 17-minute conversation can mean when the person you're talking to is Joe Stanton.

Few people know more about what's happening with downtown Geneva properties. Fewer still—if any—have his credentials as a developer, landlord, businessman and Geneva cheerleader.

Five stories came from that 17-minute conversation after the May 6 City Council meeting ended early. This is the fifth of that series—a roundup of some of the topics covered in that quick Q&A.

ARE YOU DOING WELL?

"All my buildings had to be remortgaged over the years. We carried a lot of tenants who couldn’t pay, but we didn’t want the storefronts empty because that didn’t benefit my other tenants. There were quite a few cases where we had tenants who paid the utilities but no rent.

"Now, all of my office spaces are filled and I only have one retail space left," Stanton said. "We decided not to renew their lease because they had been struggling. But as long as I had a vacancy next door, there was no reason for me to not just try to work with them. Now that we’ve filled next door, it’s time to do something with that."

ON FIRST-FLOOR OFFICES IN DOWNTOWN GENEVA

The Geneva City Council decided not to take any immediate action to restrict first-floor offices in downtown Geneva. Stanton said the jury is still out on that issue, even though Stanton had argued along with other Geneva business owners that the market should decide the tenants.

"I think the issue that was voted down the other day, I think maybe there’s a possibility of it being redefined at a later point. There’s a reason St. Charles undid their law, (and) I think it should be looked at," he said.

But the process should be clear cut and a timetable established so that present leases aren't affected, Stanton suggested.

"We have leases that guarantee people first shot at other places. We have leased to people agreeing in the future for them to rent the place down the block. Any (regulation) that comes in has to be put together in such a way so that it doesn’t disrupt deals that are already in place."

The key, too, is making sure that any regulations are fairly and judiciously considered, Stanton said. 

"You have to walk that fine line. You know, people come downtown to get their hair cuts. So, let’s not have barbers, let’s not consider barbers. I just leased to chiropractor—so do we exempt a chiropractor? Then do we exempt a dentist? ... Making the zoning more punitive—I think what they’re trying to do to increase the sales tax is fine, but I don’t think we’re handling it the right way."

ON ERDAY’S VACANT SPACE

"I don't know (what business will take that space next.) I think it could support another clothing store—I think that would be a good mix. That section of Third Street, it’s a little rough. You’d hate to give that up as a sales tax generator, but the building right next door, are we going to be able to get sales tax (there)?"

ON HAMILTON STREET ZONING

"We’ve tried to force Hamilton Street to be a sales-tax-producing (area), and we’ve done zoning I haven’t necessarily agreed with, and it just hasn’t worked. So I think we’re going to have to look at those spaces and just see what happens there," Stanton said.

But if he had his choice? "I’d like to see it stay sales tax (producing)."

NORTHEAST CORNER OF EAST STATE AND EAST SIDE DRIVE

The lot at the corner next to Orlando's and across the street from Aldi's has been vacant for a number of years.

"A lot of people have looked at it, but it’s a smaller footprint than you would think. So I think until the adjacent Safanda property becomes available, and it can be compiled, I don’t think you’ll see a project.

"There have been some fast-food restaurants that have looked at it, which would be a perfect complement to Aldi’s. But the square footage—I believe it’s like 25,000 square feet—that’s just a little bit shy. You’ve got to be looking at 30,000, 35,000 to really do that corner.

"So if that property next door ever sells, something could be done on it."

In This Series

• Stanton Makes a Bid for the Mill Race Inn Property
• Park District Will Open Community Theater in 'Underground' Space
• Stanton: Geneva Downtown Alive and Well
• Stanton: Former U.S. Bank Building Should Be Offices