30 Ac Lockport Multi-Family Site

Vacant Land for Sale
Catylist Listing ID: 30372335
Property Subtypes: Multi-Family, Retail-Pad
Gross Land Area: 30 Acres
Sale Price: $2,000,000
Unit Price: $66,666 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/17/2019

Overview / Comments

The 30 acre parcel was proposed to Lockport as a 264 unit apartment complex. The project was called Vital at Lockport, and proposed as a luxury apartment community. Vital was designed to fill an immediate need for market rate rental housing. Lockport is ready to help the new owner finalize this project. Owner would consider some level of participation in the project.

Attachments & Media

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Will
Property Visibility: Excellent
Largest Nearby Street: Division St (167th)
Feet of Frontage: 952
Highway Access: 2.3 miles to I-355 access 5.2 miles to I-80 at New Lenox, Rt. 30 interchange 9.2 miles to I-55 at Plainfield Rt. 30 interchange
Site Description: Level farmland
Area Description: Great location on Farrell Rd just south of Division Street in Lockport. Golf course at Broken Arrow across the street. High School is less than one mile north. 2.2 miles to the 159th and I-355 access.
Lot Frontage: 992 feet of frontage on Farrell Rd.
Lot Depth: 1307 feet deep
Zoning Description: Current zoning is R-2 / PUD. The zoning would need a change to a PUD Multi-Family Residential.
Topography: Level

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,048 50,316 168,951
Median Age: 36.83 33.96 34.75
Households: 3,973 16,885 56,239
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