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PRAIRIE GROVE, IL-Westminster Swanson Land Partners has landed a$55.6-million loan from New York-based Marathon Asset Management tobegin work on a 1,376-unit residential development in this suburbbetween Crystal Lake and McHenry. The 1,077-acre project includesat least 300,000 sf of retail space on 100 acres along Route 31,which eventually will be widened to four lanes.
Starbucks, Crate & Barrel and Jamba Juice have beenmentioned by Westminster Swanson Land Partners as potential retailtenants in talks with village officials. The Lake Forest-baseddeveloper recently acquired the land, located east of Route 31between Ames and Gracy roads, from Terra Cotta Realty Co.
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