"The property is comprised of two separate sites offering prospective buyers the opportunity to explore a number of development possibilities, including, retail, office, light industrial or a theatre complex," says Richard Kehoe, SVP of Inland. "Located between two expanding communities and supported by strong demographics, this is one of the most attractive development sites in Lake County."
The corner parcels will be sold through a sealed-bid auction. Kehoe is the administrator of the auction, which has a bid deadline of November 3, 2009. Colleague Eric Jana is assisting with the sale.
According to Heather Rowe, economic development coordinator for the Village, the bid auction process was chosen over a more traditional listing. "The auction process is designed to create immediate interest," she says. "Libertyville is highly supportive of investors and developers coming to the area and will aggressively work with them to ensure the success of future projects," she says.
Kehoe says he is already working for a number of interested parties to develop building concepts that could work for the site. Kehoe believes the parcels will have an added appeal, since they are located just two miles away from a 640-acre, mixed-use project the Alter Group Ltd. is developing, especially since the Lake County area is poised for growth as a result.
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