Inland Real Estate Brokerage & Auctions, Inc. (“Inland Brokerage & Auctions”) announced the successful sale of 255 acres of an 831-acre farm in Marengo, Illinois, owned by a prominent Chicago-area family. The 255-acre parcel was purchased by a local developer at $18,350 per acre, with a total purchase price of $4,679,000.
The remaining 576 acres are located west of Illinois Route 23 in McHenry County, 1.5 miles north of the planned I-90 tollway interchange. The property was recently annexed to the City of Marengo, including all adjacent unincorporated roads and highways, and is currently zoned Agricultural Transitional (“AT”), allowing the owner the right to rezone the property.
