Willow Lane Acres
30W711 Shoe Factory Road, Elgin, Illinois 60120
Willow Lane Acres Property Description The Willow Lane Acres estate consists of over seventy-seven contiguous acres of rolling countryside in unincorporated Cook County. Located at the intersection of Beverly Road and Shoe Factory Road, the property’s proximity and access to I-90 make it an ideal location for mixed-use development. The Village of Hoffman Estates has expressed interest in the site for future land use and annexation. The property’s significant landscape features and idyllic scenery make it attractive for a number of uses: neighborhood/convenience, retail, luxury residential, senior housing community, assisted living and/or memory care facility, upscale office or medical office development, meeting/events venue, educational campus, religious retreat, golf course and recreational. Jameson Commercial is pleased to offer this rare investment opportunity. Willow Lane Acres is the last large land parcel available for development on Shoe Factory Road.
History The Willow Lane Acres estate was assembled by the late Robert LeRoy over a period of 40 years to eventually include six homes, six apartments, a 1-mile horse track and stable, a fountain and two ponds, a honey farm, and neighboring Grape View Farm (one of the oldest commercial vineyards in Illinois, planted in 1924). Shoe Factory Road was named for the building owned by George Ludlow & Company, built in 1891 as a women’s shoe factory. During its peak year (1920), 2000 pairs of shoe a day were manufactured by 300 employees. The building still stands and has been converted into apartments & condos.
Highlights • 25 miles northwest of Downtown Chicago and 12 miles from O’Hare International Airport • Direct access to I-90 Jane Adams Tollway (100,000+ average daily traffic) through Beverly Road (eastbound only) and Sutton Road/Rt. 59 (full access) ramps. • Signalized intersection: Beverly Rd. and Shoe Factory Rd. • 4084 square feet of frontage on Shoe Factory Road. • Strong residential market with limited neighborhood convenience retail. • Situated between office and retail corridors with surrounding residential subdivisions. • Highly desirable South Barrington & Hoffman Estates school designations. • Less than one mile from Prairie Nature Preserve & Poplar Creek Trail System with nearly 20 miles of trails through Shoe Factory Road • Less than two miles from major retail developments including The South Barrington Arboretum, Cabela’s and Duluth Trading Company • Less than two miles from major entertainment venues including Sears Center Arena, an 11,000 seat stadium offering concerts and sporting event and three 18-hole golf courses. • Less than half mile from Life Changers International Church a 160,000 square-foot facility located on 30 acres, incorporating a sanctuary, prayer center, gymnasium, and radio and TV studio. The campus also houses the Valeo Academy, a K-12 Christian school.
Survey Price: $16,770,000.00
Acreage: 78.167 Acres
Dimensions: Per Survey
Zoning: Mixed Use
2017 Taxes: $104,504
06-04-100-017-0000
06-08-201-001-0000
06-08-201-002-0000
06-08-201-005-0000
06-08-202-010-0000
06-09-100-001-0000
06-09-100-002-0000
06-09-100-003-0000
06-09-100-004-0000
06-04-100-018-0000
Property Pins
Overview
Zoning & Future Use 29 Future Land Use
Bradwell Rd
Ela Rd
Office
Light Industrial
Parks/Recreation/Open Space
Institutional
Detached Single Family Residential
Multi-family Residential
Attached Single Family Residential
Crabtree Forest Preserve
Palatine Rd
Huntington Blv
Commercial
Office Retail Residential Mixed Use Office Retail Mixed Use Retail Residential Mixed Use Forest Preserve Forest Preserve outside Village Penny Rd
Municipal Boundary Spring Lake Forest Preserve
Beverly Rd
Mundhank Rd
Lakewood Blv
Hig gins R
Northwest Tollw ay
Northwest Tollway
Huntington-Freeman Rd
Sutton Rd
Algon quin R
d
The Village of Hoffman Estates 2007 comprehensive plan designates a future zoning of Retail/Residential Mixed Use.
Paul Douglas Forest Preserve
d
Northwest Tollway
Wes North
t Tollw
ay
Central Rd
North west Tollw
Currently unincorporated Cook County with mixed residential, agricultural and commercial use.
ay
Plum Grove Rd
Shoe Factory Rd
Bartlett Rd
Figure 2.05: Hoffman Estates Future Land Use
Roselle Rd
E
Schaumburg Rd
Old Church Rd
Springinsguth Rd
Park Rd
E J
Irvin g
Bode Rd
&
Bode Rd West
Barrington Rd
R ai
lw
Golf Rd
ay
Rohrsse n Rd
Poplar Creek Forest Preserve
Future Land uses HOFFMAN ESTATES COMPREHENSIVE PLAN 07.25.2007
Š 2007 Solomon Cordwell Buenz
0
0.5mi
1mi
Retail Hoffman Estates is home to 15 retail shopping centers all of which compete in the northwest suburban Chicago market. The dominate market retail cluster is Schaumburg’s Woodfield area and nearby South Barrington Arboretum. Located just off the arterial Highway 59 and Jane Adams Memorial Tollway I-90, Willow Lane Acres offers the opportunity to intercept customers. Convenience businesses like grocery stores, quick service restaurants, and gas stations have a potential “bonus market� to capture nearby resident and customers traveling through. Mixed Use Development adding a 24- hour population support economic development via shopping and dining that would serve as an amenity to both residents and local employees.
Corporate Over 26,000 people are employed by the more than 800 businesses operating in Hoffman Estates. The employees are drawn from the pool of almost 3 million workers who reside within a 60-minute commute of the Village. At over 6 million square feet, office is the predominate commercial land use in Hoffman Estates. It is the North American or Midwest headquarters to such corporate companies as Sears Holdings, Siemens Medical Systems, Claire's Accessories, CDK Global, DMG Morei, Tate & Lyle, Sensient Technologies, and Big Kaiser Precision Tooling. A major regional hospital, St. Alexius Medical Center, part of the Amita Healthcare network, is located in the community with a world-class Pediatric and Women’s Center. Situated in the northwest suburbs of Chicago, the Village has an ample, welleducated labor supply.
Lifestyle & Demographics The Village of Hoffman Estates Hoffman Estate has affordable to high-end homes, over seven square miles of open space, with numerous parks and two major forest preserves with hiking and biking trails. Hoffman Estates is home to several award-winning schools, a Northern Illinois University satellite campus, and close proximity to two regional community colleges. Housing prices range from affordable
(high $100s) to high-end (million dollars and up), with many styles, sizes, and locations from which to choose. Several housing communities specifically for seniors, ranging from single-family to multi-family and active lifestyle to individual assisted care can be found in Hoffman Estates.
The Village of Elgin Elgin has grown from an agricultural river town and manufacturing hub, to one of the largest and fastest growing cities in Illinois, featuring a diverse mix of uses and development types. Today, Elgin is making a resurgence, anchored by a state-of-the-art recreational facility and library. The Downtown
is experiencing a revitalization, adaptively reusing industrial buildings from the past including townhouses, condo towers, loft spaces, and art galleries. Home to the Grand Victoria Riverboat casino, attracting nearly four million people annually, it is the fifth most popular tourist attraction in Illinois.
Demographics Population
52,271
(US Census Bureau, 2011-2015 ACS)
Household Income
$84,583
Households
18,908
(US Census Bureau, 2011-2015 ACS)
Unemployment Rate
6.6%
Persons per Household
2.87
Jobs in Hoffman Estates
44,296
Median Age
37 years
(US Census Bureau, 2011-2015 ACS)
Median Housing Value
$252,300
Per Capita Income
$36,581
(US Census Bureau, 2011-2015 ACS)
Population Density
2.348 / sq. mi.
(US Census Bureau, 2011-2015 ACS)
(US Census Bureau, 2011-2015 ACS)
(2014 ACS)
(2016 ESRI Business Summary Report)
(US Census Bureau, 2011-2015 ACS)
(US Census Bureau, 2011-2015 ACS)
School Districts Willow Lane Acres furthest eastern point resides within South Barrington School District (U220), while the majority of the parcel is located within Hoffman Estates School District (U46) boundary lines, offering potential to achieve either school designation.
South Barrington (U220)
Hoffman Estates (U46)
Graduation Rate
96%
Graduation Rate
94%
Attendance Rate
94%
Attendance Rate
95%
Teachers with Masters Degrees
86%
Teachers with Masters Degrees
83%
College Enrollment Rate
89%
College Enrollment Rate
81%
Average ACT Composite Score
26%
Average ACT Composite Score
21%
Average Class Size
23
Average Class Size
24
Landscape Photos
Kelly Angelopoulos
Tony Schillaci
Vice President, Sales
Commercial Broker
312.636.5652
773.491.2572
kelly@jamesonsir.com
tschillaci@jameson.com
ŠJameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.