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- LoopNet Team
Northfield Ave
Harvard, IL 60033
Opportunity Zone · For Lease
PROPERTY FACTS
| Property Type | Land | Property Subtype | Residential |
| Property Type | Land |
| Property Subtype | Residential |
Property Overview
Capitalize on an expansive tract of land in an Opportunity Zone at the epicenter of four larger metros at Northfield Avenue. The 30-acre parcel, which was previously undeveloped agricultural land, now offers a ready-made site with the entire infrastructure and utilities installed, including city, water, sewer, and natural gas. Surrounded by the local park district, the location is within city limits and already fully zoned for multi-family developments, saving buyers time and money. Indulge in tax credits provided by the land’s location inside an Opportunity Zone and take advantage of a new asset located within a 30-minute drive of Amazon’s new planned distribution center. The site is also less than a 25-minute drive to both I-90 and I-43, which connects it to Chicago, Milwaukee, Madison, and Rockford, making for a development site that can benefit from all four larger markets as residents migrate inward towards Harvard. The current owners will consider a sale, long-term ground lease, or a joint venture proposition with a qualified developer under rural development tax incentives and affordable housing programs, as well as a 1031 exchange.
Highlights
- The site is located in an Opportunity Zone, which provides an abundance of tax credits, and all utilities are available to the site.
- Fully improved road infrastructure built on the property, which is within city limits and already has multi-family zoning in place.
- Perfectly situated at the intersection of four larger cities: Milwaukee, Chicago, Madison, and Rockford, all within an hour and a half drive.
- Offers convenient access to both I-90 and I-43, the areas two main thoroughfares, which can be reached in a 25-minute drive.
