Administration is asking Windsor city council for its stamp of approval.
Back in March, council asked the City Solicitor to begin the expropriation process for property near Riverside Drive East and Devonshire Road.
The property is owned by Hiram Walker & Sons Limited and negotiations started between both parties.
According to a city report, the company accepted the city's offer to obtain the land based on its appraised value of $144,000.
Ward 9 councillor Kieran McKenzie says he's happy the city and company have come to an agreement.
"I'm glad that we as a city continue to engage the land owners in this case, Hiram Walker in order for this to proceed," says McKenzie.
He says council now needs to approve the transaction.
"All of the affected parties, the land owners as well as the city have determined that the best way for us and the most expedient way for us to proceed is to continue with the expropriation and to allow for the official disposition of the land to proceed through that process," says McKenzie.
The land is needed for the widening of the roadway in the area.
The city plans to reconstruction the Riverside/Devonshire intersection with a roundabout.
The land is also needed for the installation of the Hiram Walker statue.
Tuesday's virtual city council meeting begins at 10am.