±38 Acres Development Land

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Address: IL-38, Illinois, USA

Chicago & Midwest + Land/Development

Created date: April 1, 2024

Date last updated: August 14, 2024

+/- 38 AC development land in North Aurora, which is 37 miles west of downtown Chicago
Annexed and zoned B2/R4. R4 (11-15 units/acre apartments or 5 units/acre townhomes or other such as a retirement center
Quick access to interstate system via I-88
Full-access signalized 4-way lighted intersection at Orchard Rd
All utilities are available: water, sewage, electricity, fiber, etc.
Located across multi-million dollar single-family homes in the strong residential neighborhood
Strong retail corridor: area retailers include Super Target, JC Penney, Woodman’s, Home Depot, Best Buy, Michael’s, Petco, La-Z-Boy, Office Depot, Party City, MC Sports, Walgreen’s, CVS, Aldi
Low Kane County property taxes ($1,175.82 for 2022)
Business friendly community with tax incentives for the right developers
Rental apartments and big box retailers are the highest and best use; other uses are welcome

Property Description

The subject property presents a unique development opportunity for either commercial or residential developer. It is already annexed to the Village of North Aurora and zoned B-2/R-4 Mixed Use Planned Unit Development. B-2 zoning allows most commercial uses and R-4 allows high-density multi-family residential. Per the annexation agreement, the entire property can be developed as commercial, or the property can be developed as a mix of residential and commercial. Full-access signalized intersection planned for the property at Orchard Rd. The surrounding suburbs are running out of developable land and many subdivisions, complexes and commercial dwellings are at full capacity with little to no inventory. Suburban style walk-up rental apartments and townhomes would be the highest and best use for the site which will maximize the value of the residential portion of the land. The site enjoys business friendly community with low Kane County real estate taxes. The village will welcome big box retail developers offering variety tax incentives.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Land/Development
Lot Size:	38.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here