| Press Release / March 2007 | View PDF |
Next Realty Midwest LLC Represents McVickers Development LLC in McCook, IL Land Purchase
Northbrook, IL (March 14, 2007) – Next Realty Midwest LLC represented McVickers Development LLC in the purchase of 35 acres of land located at the southwest corner of 47th and 1st Street in McCook, Ill. The seller was CenterPoint Properties. The land is adjacent to the McCook Business Center, the former Reynolds Aluminum campus that CenterPoint Properties is developing. McVickers plans to develop a power center on the site to be anchored by Wal-Mart, in phase one of a two-phase retail development.
“This is a prime infill location surrounded by a very well established and dense residential and commercial base,” said Matt Silvers, principal and managing broker, Next Realty Midwest LLC. “Finding developable land, with this kind of exposure, in an infill location that can be adaptively reutilized for a higher and better use is unique to say the least.”
The purchased land is ideally located minutes from Chicago, with immediate access to I-55 and I-294, as well as public transportation. The McVickers retail center will serve the large skilled labor pool in McCook Business Center and the surrounding areas.
About Next Realty Midwest LLC
Next Realty Midwest LLC, a premier real estate brokerage service provider in metropolitan Chicago, is an affiliate of Next Realty LLC. Next Realty Midwest focuses on land acquisitions and infill/adaptive re-use opportunities for retail and residential development, as well as tenant representation and property dispositions.
About Next Realty LLC
Next Realty LLC, with offices in Northbrook, Ill., and in McLean, Va., works to create and retain wealth through commercial real estate, including acquiring and developing shopping centers, retail land and parking structures.
