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New residential property could be coming to Barrington's downtown

The village is working to sell land near Barrington's downtown that was once used for storage to a developer who is planning to turn the vacant lot into apartments or condos.

The village board voted unanimously Monday night to enter into a contract to sell the property at 322 N. Hough St., where Adco Van & Storage used to be, to Chicago-based Monroe Residential Partners.

Peggy Blanchard, the village's economic development director, said the developer will have six months to do a site evaluation, develop their plan and have the village weigh in on it. If the plan is accepted, the $750,000 land sale will go through.

"We look forward to working with the development team as they prepare their plan development submittal," Blanchard said during a presentation about the plan to the board.

The village bought the land in 2001 and leased it to Adco Van & Storage until 2010, Blanchard said.

"Once they moved out we looked at the reusability of the building and realized that it would be better to demolish it and sell the vacant land," Blanchard said after the meeting.

According to their website, Monroe Residential Partners have been involved in either the acquisition, development or redevelopment of more than 30,000 apartments and condominiums.

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