Senator Sees Lots of Interest in Vast Steel Site

The Illinois Valley’s state senator reported today there has been a “steady stream” of businesses looking at the former LTV Steel plant — and the stream should continue once an online auction is completed Thursday.

State Sen. Sue Rezin (R-Morris) said today that interest is surging in the former steel plant. The property, she said, has drawn considerable interest, and she expressed hope that development will surge once new owner IPS Steel completes auctioning old spare parts, excess tools and other miscellaneous items that will help further the demolition of buildings that have been deemed unusable or inefficient.

“What they are hoping for is to make an industrial complex of a sort,” said Hennepin Mayor Kevin Coleman. “After the buildings are taken down, smaller industry can use the base to build.  There is a tremendous concrete base. All of the utilities will remain.  I know this is a multi-phase process.”

In a press release, Marci Duro of Illinois Valley Area Chamber of Commerce told of the possible continuation of the current rail line to the river, as well as the possible purchase by IPS Steel of an onsite locomotive.

The facility currently has rail service and access to the Illinois River, as well as Interstate 180, with interstates 80 and 39 in close proximity.

“Any future investor or company would be lucky to find three of these assets in one location,” Rezin said. “What I am most proud of is our local workforce. Our people in and around Hennepin work hard, are incredibly knowledgeable, and are very excited about making the old steel site a huge asset to the area again.”

While no industry or business has been officially announced, the site should be ready for immediate development in the coming months.

Source: News Tribune