HUNTLEY, IL - The Chicago office of Transwestern has brokered the sale of Huntley Crossings on behalf of a local developer.
The 28-acre land development site, located at Route 47 and Powers Road, was purchased by ACG Equities for $2.5 million.
Transwestern Directors Janice Sellis and Paul Barile exclusively represented the seller.
“This was a unique opportunity for a developer to purchase a fully improved land site at an attractive basis and hold for development,” Sellis says in a press release. “We were able to identify the optimal buyer; a local retail developer and institutional investor team.”
While large- scale retail development is not expected anytime soon, development of the back part of the site is seen happening as housing growth spurs retail growth to return to the area in the next few years.
While the land was being marketed, Route 47 was widened and construction began on a new interchange at I-90. Both projects are expected to increase traffic to the site.
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