The process begins July 29, when Sheldon Good & CompanyAuctions LLC opens sealed bids for one of the largest undevelopedtracts remaining in the county. It also could involve an annexationtug-of-war, as both Libertyville and neighboring Grayslake wouldnot mind expanding their tax bases.
Lawrenz Titus paid $100 per acre for most of the property in1877. Now, residential land in the area retails in the neighborhoodof $400,000 per acre.
Rather than freight, two rail lines offer Metra commuter serviceto Downtown Chicago, a draw for residential developers. Chairmanand chief executive officer Steven L. Good foresees retaildevelopment, especially if the extension of Route 53 north fromLake-Cook Road to Route 120 eventually happens, and if MidlothianRoad is extended from Peterson Road to Harris Road.
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