303 S Williams St

INVESTMENT OPPORTUNITY !! – Residential development investment opportunity. The former Riley School building was on the west part and the east part was platted as the 1st Riley addition in 1927. The east part was platted with 20 lots, with alleys and S. Young St extended through the property. The alleys and S. Young St. have been vacated, but a sewer line running west/east divides the property. AT&T has an easement for equipment at the northeast corner of the property. The lot dimensions given are approximate. A site plan with precise dimensions is being prepared, but not yet available. The current zoning is PB (Institutional) for the west part and Parks for the east part. Community Schools of Frankfort prefers to sell only to a user that will develop single family residential lots. A deed restriction is proposed, but not yet available. When the school building was demolished the basement floor was not removed. It was drilled with holes for drainage and backfilled. The tax exempt status will apply for the 2021 pay 2022 real estate taxes. Taxes will not be due until May, 2023.