A plan to raze the former Bakers Square restaurant in Libertyville for a proposed convenience store and gas station has been dropped.
But village officials say there's continuing interest in the property and they expect another plan will be forthcoming.
Real estate development firm GW Properties of Chicago had been seeking village approvals to demolish the building at 1195 S. Milwaukee Ave. to make way for a 7-Eleven convenience store and gas station.
The request was to have been heard Monday at a public hearing of the village's zoning board but was withdrawn.
In a letter to the village two weeks ago, GW Vice President Jon Silverberg said the project was terminated by the proposed tenant.
"The sad reality of these unpredictable times is that commercial space users are scaling back their plans for expansion," Silverberg wrote.
"As a result we are now forced to unwind our development project and withdraw our application."
Plans for the 1.34-acre site had called for a 5,300-square-foot, 24-hour convenience store and an accompanying gas station.
The building, just south of the Greentree Plaza strip center, was built in 1981 and occupied by Poppin' Fresh Pies. Within two years, it was renamed Bakers Square and operated until this past January, when the company filed for voluntary Chapter 11 reorganization.
In a description of the proposal submitted to the village, GW described the site as poorly maintained and underutilized and said redevelopment would create jobs and increase tax revenue.
On Sept. 21, the plan was presented to the village's appearance review commission, which recommended approval of the exterior design elements.
After informing the zoning board the 7-Eleven plan had been dropped, Community Development Director John Spoden was asked about the future of the property.
"I suspect there will be something new (proposed) in the next couple of months for this property," Spoden said.
The property is prominently located, and a high volume of daily traffic on Milwaukee Avenue make it desirable for commercial development, village officials say.
"We've been getting constant calls since Bakers Square closed," said Heather Rowe, the village's economic development coordinator.
According to information submitted to the village, GW was the contract purchaser of the site. Silverberg declined to comment Wednesday.