Lindenhurst retail parcel up for sale

The owner of the planned Lindenhurst Village Green retail development announced Thursday its putting the parcel up for sale.

Owner OliverMcMillan Lindenhurst LLC plans to sell the 64-acre parcel located at Route 45 and W. Grand Ave. (Route 132), west of the I-94 Tri-State Tollway in Lindenhurst in northern Lake County. OliverMcMillan Lindenhurst purchased the property in April 2007.

"With the state of the current economic and real estate climate, the decision has been made to list the planned Lindenhurst Village Green property for sale," Paul Buss, President of OliverMcMillan, said in a release.

"The slowing of retail sales throughout the nation extended the property's project timeline and, ultimately, resulted in this decision," continued Buss.

The Lindenhurst Village Green project is part of a larger 190-acre mixed-use urban village planned for 838 residential units. The 600,000 square-foot, open-air lifestyle center was to be connected to the community by scenic walking trails and open space throughout, incorporating the site's natural characteristics and preserved wetlands.

"While we are certainly disappointed, we understand the decision to put the property up for sale based upon the current economic climate," said Lindenhurst Mayor Susan Lahr. "Our agreements with the ownership require any purchaser of the property to follow the same development plan as was proposed unless they get approval otherwise from the village."

"Residents of Lindenhurst can be assured we will continue to work aggressively to attract a high quality, nonresidential project to this property," the Mayor continued.

The community of Lindenhurst is located in Lake County, in Northeastern Illinois.