Newmark Knight Frank (NKF) announced the sale of a 7.5-acre site within Huntley Commercial Center in Huntley, Illinois. The parcel was acquired by General RV Center, to expand its existing adjacent dealership.
Huntley Commercial Center, formerly the site of the Huntley Factory Outlet Center, offers 2,000 feet of frontage on the north side of I-90, immediately east of the four-way interchange at Route 47. The Huntley Factory Outlet Center was demolished in April 2018 and is now ready for immediate development. With this General RV Center sale, there are approximately 60 acres remaining for purchase, or build-to-suit for sale or lease.
Ownership of the property includes affiliates of California-based Craig Realty Group, LLC, Elgin, Illinois-based The Capital Companies, LLC and The Prime Group, Inc. of Chicago. In the late 1980s and early 1990s The Prime Group was the original developer of over 2,800 acres of land in Huntley that straddled Route 47, north of I-90, including Del Webb’s Sun City and the outlet center, which was later owned by Simon Property Group.
NKF’s senior managing directors Adam Marshall, SIOR, CCIM, and James Schutter, along with directors Mark Deady, CCIM, and Luke Sementa, were hired by ownership in April 2018 to lead the brokerage team in the sale or build-to-suit lease of the property. The property is located within 30 minutes of O’Hare International Airport and Chicago-Rockford International Airport and has a population base of 8.9 million people within a 45-mile radius of downtown Chicago and access to six interstate highways providing tremendous regional and national transportation reach.
“The Huntley Commercial Center site offers a rare, blank slate opportunity to build highly visible office, retail, commercial, multifamily or industrial properties,” said Marshall.
The Village of Huntley is one of Chicago’s fastest growing communities with over 900 new units permitted in the last five years. Over $100 million in recent roadway improvements has significantly expanded convenience and access to Huntley, including the new four-way interchange at I-47 and I-90. Huntley offers lower property taxes and public utility fees than its neighboring communities along the I-90 corridor and does not collect a natural gas or electricity tax.