A 28-acre site southwest of Highway 11 and I-94 in Yorkville adjacent to the first phases of the Foxconn development has been sold to a San Diego development group.
2. Mount Pleasant Business Park
4. Enterprise Business Park
A. Foxconn Phase 1 & 2
(PHOTO: Zilber Property Group.)
Maria Vargas of Aurora, Illinois sold site s to Landcorp LLC, which is registered to Third Ward-based real estate developer Gabaldon Properties, for $1.75 million, according to state records.
Gabaldon then sold the parcel to Durand Corners LLC, which is registered to San Diego-based developers Lansing Cos., for $2.5 million.
Gregory Lansing, president and CEO of Lansing Cos., plans to subdivide the land and sell it to other firms. He said he already has interest from gas stations and restaurants for the site.
“We became interested in the area because of Foxconn, but the corridor itself between Milwaukee and Chicago is very active,” Lansing said.
Lansing recently purchased a 36-unit apartment building in Kenosha. In coming weeks, the company will close on 48 acres on Spring Street, between I-94 and Highway V in Mount Pleasant where Advocate Aurora Health is planning to build a $250 million hospital, Lansing said.
Lansing is planning a residential development for that site. The company is also planning to purchase a large industrial parcel near that interchange, north of Spring Street, he said.
