Hilco Global Appraisal, Acquisition, and Liquidation News

Read about Hilco Global’s latest business transactions, executive leadership changes, and other company news.

Hilco Real Estate Announces 7 Parcels of Bank-Owned Interstate Development Land for Sale Near Chicago

Apr 27, 2021

Land For Sale - Chicago

Hilco Real Estate LLC announces the sale of 29± acres of bank-owned development land within the Prime Business Campus located in Lockport, IL. The land is divided into seven fully improved, construction-ready parcels that can be purchased individually or in any combination. Found on the south side of 167th Street and Prime Boulevard within a business park directly along I-355, the property represents an ideal setting for a variety of development opportunities within a business-friendly community.

The parcels available in this sale include lot numbers 2, 3, 4, 9, 10, 11 and 13. The lots range in size from 3.84 acres to 5.33 acres, totaling 29.18 acres in all. O-2 zoning allows for a wide variety of uses for the development land, including office, light manufacturing, hotel, daycare and senior housing, while the village is open to additional uses under special use permitting. Improvements within the business park include fully built streets and curbs, in place water and sanitary utilities, off-site detention and fully graded sites. Several businesses already call the Prime Business Campus home, including Bo Jackson’s Elite Sports Complex and Style Line Custom Cabinetry, as well as the City of Lockport’s Public Works Department. Proximity to I-355 provides excellent exposure for the parcels as well as convenient access to Chicago’s O'Hare International Airport (ORD) and Midway International Airport (MDW). Lockport also offers easy access to a network of transportation routes, including I-80, I-55, U.S. Route 66 and IL Routes 7, 53 and 171, providing plenty of opportunity to reach dining, entertainment and hotels in just minutes.

Lockport is a suburb 30 miles southwest of Chicago with a population of approximately 25,000 people. Founded in 1853 and aptly named the “City of Historic Pride,” the community has both preserved the rich background and architectural aesthetics of the 19th century while embracing progressive measures to ensure future growth.

On April 9, 2021, Lockport was announced the official winner of this year’s Strongest Town contest. The nationwide competition identifies towns that are taking thoughtful, fiscally responsible actions to foster growth and development while becoming economically resilient in the process. Cities from across the nation are nominated for the competition but only 16 are chosen each year to compete. Through four rounds of voting and more than 33,000 total votes, Lockport came out on top with 54% of the vote against the finalist Oxford, Mississippi. Lockport stood out for actions the city is taking to create diverse housing options, improve walkability and bikeability, provide businesses maximum flexibility to weather the pandemic, and more. Throughout the pandemic, Lockport has rallied to support its residents and businesses by creating a grant program and, ultimately, giving businesses the flexibility to adapt during these unprecedented times. Boasting an excellent school system, exceptional library and park district, some of the finest dining in Will County, and a host of recreational opportunities, Lockport represents a quality of life that is second to none and an ideal environment for businesses to thrive.

Steve Madura, senior vice president at Hilco Real Estate said, “These parcels benefit from the excellent visibility provided by nearby I-355. Centrally located in the southeast section of the city and within minutes of three major interstates, this property has access to airports, hotels, dining – you name it.” He continued, “The prime location of these parcels is just one of the many reasons why this sale provides an incredible opportunity for a variety of developers, investors and end users alike.”

For further information on the property, an explanation of the sale process and Terms of Sale, and to obtain access to the Virtual Data Room containing all the property due diligence, please visit HilcoRealEstate.com or reach out to Steve Madura at (847) 504-2478 - smadura@hilcoglobal.com or Adam Zimmerman at (847) 917-9323 – azimmerman@hilcoglobal.com.

For more information about this or other properties available for sale, please visit HilcoRealEstate.com.

 

About Hilco Real Estate

Hilco Real Estate (“HRE”), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.