WOODSTOCK, IL-The former Morton Salt building, as well as the 29 acres around it, has been sold for $3.5 million to Wal-Mart, which will build a Superstore at Lake Street and Kilkenny Court. The location is north of US 14 and east of Eastwood Avenue, the main north-south thoroughfare through this far northwest suburb.
"This is the perfect location for a Wal-Mart Superstore," says Inland Real Estate Sales' Jordan Shtulman, who represented Middleton, WI-based UP Development in its sale of the property along with Andrew Watson. "A new Wal-Mart will not only provide for the Town of Woodstock, but this location is easily accessible to smaller communities nearby. This transaction is really going to benefit the whole area."
Street improvements needed to handle traffic to the Superstore is scheduled to begin this summer, according to the city manager's office.
Russell Waldschmidt, president of Peoria-based Stonewald Co., represented Wal-Mart.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
