Marcus & Millichap, a commercial real estate investment services firm, Wednesday announced the sale of a 77-acre parcel located in unincorporated Kane County and adjacent to La Fox Metra Station Next to Metra Station.
The property sold for $820,000, said Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office.
Rick Gordon, an investment specialist in land, redevelopment and adaptive re-use properties with Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a bank/financial institution. The buyer, a private investor, was secured and represented by Rick Gordon.
The 77-acre parcel has an address at 41W750 Keslinger Road.
The property is said to be well suited for an investment as well as a potential large lot single-family home development or a potential business development. In addition, the parcel is located midway between the villages of Elburn and Geneva.