Multi-Family/Assisted Living Site
329 Thomas Ln
Fox Lake, IL 60020
Highlights
- 7 million in improvements with site development and detention
- Adjacent to a 100-unit 55 plus apartment building with waiting list
- Can be utilized for 140 multifamily rental development utilizing current improvements
- Engineering and site plans are approved for assisted living, multifamily will use existing footprint, engineering near completion, multifamily zoning approved by the city
- Seller completion available
- 16-18 months to complete construction
- The Village and Mayor of Fox Lake approve entitlement for multifamily market rate apartments
Description
Caton Commercial Real Estate has been retained to exclusively offer for sale 5.71 acres with improvements at 329 Thomas in Fox Lake. The infrastructure and foundation can be used to complete 140 multi-family rental units.
The site has approximately 7 million in improvements including the foundation, elevator shafts, detention area, mass grading, underground plumbing and electric, and some of the floor has been poured. Sewer water is to site. The storm water detention area and street improvements are complete.
• Once occupied and stabilized the property is projected to be valued at approximately
40 million dollars
• The seller was the contracted builder and is willing to Joint Venture or complete the
project for another
Immediately adjacent to a 100 unit 55+ apartment community with waiting list.
