PLAINFIELD, IL-Alexandria, Virginia-based OA Management LLC and Winter Park, Florida-based Avanti Properties Group have bought an unfinished 955-acre development in Plainfield for $12.5 million. They acquired the Springbank development platted for 1,880 homes from developer MAF Developments Inc.
Springbank, once planned for 1,599 single-family homes, is one of the largest developments in the southwest suburbs. Avanti and OA are planning to sell the sites to builders. This is the first acquisition in Chicago for Avanti. For the full story, go to Crain's Chicago Business .
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