Development Site

On April 6th, Millennium Properties will sell a 1.1 acre industrial development site in Schaumburg through a sealed bid auction. The site is in a great location within an industrial park, a short drive from Wise Rd. and the Elgin-O'Hare Expressway. This site has great potential for a wide range of industrial developments.

Millennium Properties announced that it recently sold five lots, totaling 7.38 acres at a busy corner in Bolingbrook. At the southeast corner 115th St. and Weber Rd., the lots are graded and ready for development. The new owner intends to build a Dunkin’ Donuts franchise location on one of the lots with 373 feet of frontage on Weber Rd

Millennium Properties recently sold a 5.7 acre residential land site in Chicago’s Brighton Park neighborhood. Previous development plans for the site called for nine mixed-use buildings with up to 337 residences. The new owner plans to develop more than 35 three-flat buildings on the subdivided site.

Millennium Properties announces that it sold a 1.8 acre riverfront development site in the South Loop at auction for $7.75 million. Millennium Properties auctioned the site at 800 S. Wells on behalf of the bankruptcy court, securing a stalking horse bidder and overseeing the auction to qualified bidders. With 158’ of Chicago River frontage, the 77,258 square foot lot is currently used as parking for the adjacent River City Condominiums. Previously, plans were approved to develop a condo tower with 276 residential units and six townhomes.

Millennium Properties brokered the sale of five former Dominick's Finer Foods outlots and gas stations located throughout the Chicago suburbs for a total of $3.4 million. The three former gas stations will be decommissioned and all of the sites will be developed as retail space. Each site is in a strong location near a major retail corner close to both residential and commercial areas.

Millennium Properties recently completed the sale of a 4.67 acre infill development site in the Little Italy/UIC neighborhood for $1.06 million. The first development phase of Metro Place, consisting of 17 single family homes and a six unit condo building, was completed between 2006 and 2009. The new owner, Eco Development Inc., intends to complete the remaining two phases adding 14 single-family homes, 59 townhomes, and nine six-flat condo buildings.

Millennium Properties R/E, serving as the exclusive advisor to the Chicago-based lender, recently completed the sale of a 3.4 acre development site near 159th St. and Will-Cook Rd. in Homer Glen. The new owners, Richards Building Supply, will develop the site into a new headquarters location.