Horseshoe Lake Corporation Purchases Property from the Township

On July 27, 2023, Northfield Township signed a Purchase Agreement with Horseshoe Lake Corporation (HLC) for their purchase of 79 township-owned parcels in the Horseshoe Lake area.  A Quit Claim Deed will be filed with the county shortly, officially transferring the ownership of these properties.  This conveyance was made upon the express condition that the property remains undeveloped and will be used and maintained as recreational, open space or park land and for no other purpose for a period of not less than 35 years.  No building or other development may be constructed on any parcel during the 35 year restriction period.

The sale of these parcels has been several years in the making.  Most of the parcels included in this sale were acquired by the Township over many years with the anticipated purpose of creating a wetland preservation area to help mitigate the regular flooding that occurs in the Horseshoe Lake area.  Over the years many options had been considered for these properties including creating a Wetland Preserve, putting the properties up for public auction, and transferring the properties back to the county.  In the end, the Township Board of Trustees decided that the option to purchase should be first offered to Horseshoe Lake Corporation.  After several months of negotiation, the Township and HLC came to a mutual agreement.

The Township was advised by their legal counsel that the properties could not be sold for more than what the Township paid to acquire the parcels.  Most of the Township's parcels in the Horseshoe Lake area were acquired through tax foreclosure.  HLC purchased the 79 parcels for $5,000.00, plus $933.31 to cover the cost of prorated property taxes.