180± AC NWC S. Farrel and W. Oak Ave.

Home » All Multifamily Properties » Chicago & Midwest » 180± AC NWC S. Farrel and W. Oak Ave.

Address: W Oak Ave & Farrell Rd, Lockport, IL 60441, USA

Chicago & Midwest + Land/Development

Created date: June 27, 2024

Date last updated: October 16, 2026

Price: $16,590,000Investment Analyzer NEW!

Concept plan approved
Proposed commercial, multifamily and single family development with 633 dwelling units
Divisible
7,900 VPD exposure on Briggs Street
Engineering estimates of land development costs available

Property Description

Serenity Landing is a 183.6± acre parcel with 633 dwelling units proposed, consisting of single-family lots, as well as townhome and apartment buildings. The proposed development is divided into four units or phases, consisting of: • Unit 1 – 67 single family lots, located at the northerly portion of the parcel, south of Bruce Road • Unit 2 – 240 apartment units, located at the westerly portion of the parcel, east of Briggs Street • Unit 3 – 181 townhome units, located in the middle portion of the parcel, north of Oak Avenue. The eastern portion (3A) consists of 64 units and the western portion (3B) consists of 117 units • Unit 4 – 145 single family lots, located at the southeasterly portion of the parcel, north of Oak Ave and west of Farrell Road In addition to the residential units, the proposed development includes: • A 5.3± acre public park site • Over 36 acres of passive open space, which includes the Fraction Run Creek corridor and a proposed meandering multi-use/bike path • A site for a club house and associated amenities • A future 1.8± acre commercial area • Local pocket parks Final plats of subdivision, final engineering plans and final landscape plans are being provided for each respective residential unit referenced above, which in total will include the entire 183 acre parcel. In addition to plans for the onsite improvements, plans are also being provided for the following: • Bruce Road improvements, to include a west bound left turn lane into the site at the intersection with Geneva Avenue • Briggs Street improvements, including a left turn and right turn/deacceleration lane at the Fox Hollow Drive access to the site, as well as left turn lanes for south bound and north bound traffic at the Oak Ave intersection • A new Oak Avenue pavement widened to 24 feet in width, with adjacent shoulders, along the entire frontage of the parcel The submittal of documents to governmental agencies for the project review and approval process includes: • City of Lockport – Final Plat of Subdivision, Development/PUD Plan, Final Engineering and Annexation Agreement approvals • Will County Division of Transportation – Briggs Street Improvements • Illinois Department of Natural Resources, Office of Water Resources – review and permit for miscellaneous grading within the Fraction Run Creek flood plain In addition to the above, permits from the Illinois Environmental Protection Agency will be necessary. These permit applications, which require City of Lockport signatures, will be submitted after receipt of applicable approvals from the City.