Area brokers tell GlobeSt.com the estimated build-out value of the venture will be at least $200 million. Custom-built residences are expected to start at $400,000. Lot prices start at $80,000. About 238 lots of the 318 lots in the project's first phase have been sold, brokers following the project say. Estimated lot sales to date are $20 million.
The first phase has been under construction since fall 2003 and includes a golf course and a 60-acre equestrian center. Brokers familiar with comparable projects tell GlobeSt.com River Forest will emerge as one of the largest and most affluent golf and equestrian-oriented communities in the entire state.
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