Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OSWEGO, IL-Chicago-based V Land Corp. has purchased 100 acres of land at the southwest corner of Routes 30 and 34 here. A joint venture between V Land and Chicago-based Commonwealth Realty Advisors Inc. plans to construct a 144 townhomes and 78 single-family homes on the 55 acres with the rest of the property being developed with retail, according to a released statement. The sellers of the property were Troy Trust LLC and Louis Karlis. The price of the land was reportedly about $17 million.

An approximate 300,000 sf building, a 45,000 sf building and eight outlots are planned for the retail development, to be called Oswego Marketplace. LA Fitness will lease the 45,000 sf building. Terms of the lease were not disclosed. Construction is expected to begin in the fall with the first phase completed by summer 2008.

Woolpert will provide engineering services and JTS Architects will be the architectural firm for the project. Metro Commercial Real Estate will handle leasing and Walsh Landscape Construction will provide landscape architectural services. Representatives from V Land declined to be interviewed. Commonwealth did not return a phone call seeking comment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.