The city's community development commission has committed $14 million in tax increment financing in the area. However, previous owner Beverly LLC did much of the heavy lifting by doing environmental remediation and building demolition following its purchase of the Beverly Industrial Park in 1998. The Illinois Environmental Protection Agency declared last year that no further remediation is necessary.
The townhouse and single-family plans by new owner 105th & Vincennes, LLC follow another residential project that fizzled as well as an industrial redevelopment that failed to get off the ground.
Venture One Real Estate principal Steven J. Goode, SIOR was sole broker in the sale.
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