Breaking News Bar
posted: 3/31/2021 2:14 PM

Sixty acres in McHenry, Naperville building sold

hello
Success - Article sent! close
 

OAK BROOK -- Inland Real Estate Commercial Brokerage Inc. said it aided in the sale of two residential investment properties, including a 60-acre site in McHenry and an apartment building in Naperville. Terms of the two deals were not disclosed.

The 60 acres in McHenry is located along Route 31 at Blake Road. Paul Montes, senior vice president of Inland Real Estate Commercial Brokerage who negotiated the sale, said the buyer is a prominent private developer with plans to rezone and convert the agricultural land to a residential development.

"The property is minutes from a number of casual restaurants, retailers and pharmacies, such as Woodman's, Meijer, Dick's Sporting Goods, Home Depot, Aldi, Jewel-Osco, Walgreens and Northwestern Medicine Immediate Care," Montes said. "It's also near recreational areas like the popular Chain O' Lakes State Park, Moraine Hills State Park, Golden Age Cinema and a number of local golf courses and country clubs."

Eric Spiess, senior vice president of Inland Real Estate Commercial Brokerage, facilitated the sale of the multifamily property at 227 N. Brainard St. in Naperville. The free-standing, six-unit building is located in the heart of Naperville, near North Central College and steps from the Metra Station.

Driven by location and rental demand, the property received multiple offers and went under contract above list price after two days on the market. The cash sale closed in two weeks to a private investor seeking an immediate income-generating asset, Inland said.