Fairgrounds deal finally signed, sealed, delivered

The sun set Friday on more than a century of agricultural tradition, but the sale of a family farm opened new horizons for the village of Grayslake and the Lake County Fair Association.

Complicated transactions successfully completed Friday will result in a new home for the Lake County Fairgrounds and an 807,000-square-foot shopping center to take its place.

"Their dream begins now. This is a giant step for them," said Rudy Magna, attorney for the fair association.

Developers SKW Capital Management LLC of Deerfield and partner Developers Diversified Realty Corp., of suburban Cleveland bought the Titus Farm on Peterson Road west of Harris Road. It exchanged that property along with $12.5 million for the 111-acre fairgrounds at routes 120 and 45.

Nothing will change immediately, as the fair will retain the right to use the property while it builds its new home. The goal is to have the annual county fair operating at its new site next July.

It has been held every July at the same spot for more than 50 years. More than 154,000 visitors attended the five-day event this year.

The association for years has been interested in building new and expanded facilities. Its members a year ago to the day of Friday's closing, voted to authorize the sale.

The idea has been to maintain the tie to the county's agricultural past, but provide an opportunity to host bigger and better events year round.

"It's a pretty exciting thing for us. It's a huge complicated deal any one little glitch could have stopped it," said fair association president David DeYoung.

The association already has been working with an architect, civil engineer and construction manager, although no starting date for construction has been set.

The village annexed the Titus Farm property a few weeks ago, and the county has authorized major road improvements in anticipation of the new fair site.

"Now we can go (forward) without worry about something falling apart," DeYoung said. "We're working toward a new goal."

Developers have not announced a time table for work at the fairgrounds site and have not mentioned any specific tenants. As proposed and accepted by the village, the shopping center will be about two-thirds the size of Westfield Hawthorn in Vernon Hills.

It will include a combination of anchor tenants and smaller stores in a pedestrian friendly atmosphere.