Entre Commercial Realty LLC announced a 4.7-acre land assemblage and sale at 156 West Dundee Road in Wheeling, IL to The LaSalle Group. The sale was valued at $2.3 million.
Entre’s Michael Gazzola represented the buyer in the sale of two separate parcels. Shir Hadash Synagogue represented themselves and Horizon Realty’s Barry Millman represented the second seller, Olshansky Properties in the transaction. This is the second acquisition Gazzola and Entre have completed on behalf of LaSalle in Chicagoland as part of their multi-facility expansion into this market.
The LaSalle Group, a national leader in memory care with more than 15 years of experience, has purchased the property for the development of the company’s newest product, Autumn Leaves Memory Care Assisted Living community formally named The Whitley of Wheeling. The project is set to begin construction this spring and completed by summer 2016.
“This was a complex land assemblage allowing The LaSalle Group to acquire two parcels of land from two different owners,” stated Gazzola. “As part of the overall package, LaSalle deeded back a portion of the land to the Synagogue with plans to develop a private park and public bike path. LaSalle also provided 62 additional parking spaces for use by the Synagogue to assist in their ongoing expansion.”