LAKE FOREST, IL
An Exceptional 23.4-Acre Development Opportunity in Lake Forest, IL
BANK OWNED - POTENTIAL TO DIVIDE
Mesirow Financial Real Estate Brokerage, Inc., as exclusive agent and advisor to the Owner, an affiliate of Harris Bank, is pleased to offer qualified purchasers the opportunity acquire fee simple interest in the Barat Property - an exceptional 23.4 acre development site located at 700 East Westleigh Road in Lake Forest, Illinois.
Due to its size, location and character, the Property has tremendous redevelopment potential and offers a new owner the chance to create a very unique and attractive new development. Potential uses may range from for sale residential, for rent residential and senior housing uses to cultural, education, institutional and office uses.
There is potential to divide the Property if a purchaser is interested in only the vacant land or only the adaptive re-use of the existing building(s).
DEVELOPMENT and/or ADAPTIVE REUSE - HISTORIC PRESERVATION
POTENTIAL USES: RESIDENTIAL - SENIOR HOUSING - APARTMENT - CULTURAL - EDUCATION - INSTITUTIONAL - OFFICE
This offering represents a rare opportunity for an investor to acquire a unique development property in a one-of-a-kind location. The Property is located in the heart of Lake Forest, Illinois -- an affluent community located approximately 30 miles north of downtown Chicago. The site is located in the highly desirable eastern portion of Lake Forest, less than one mile from Lake Michigan, luxury estates, country clubs and extensive services.
Lake Forest has been recognized by CNNMoney magazine as one of the most desirable places to live in the United States. Local median incomes, housing values, education levels and school systems are in the top 20% nationally and in many cases, the top 5%. Median home prices exceed $870,000 and 30% of homes are valued over $1 million.