Local Developer Plans Redevelopment Of 100 West Roosevelt Road In Wheaton For $1.5M

A development site located at 100 West Roosevelt Road in Wheaton, Illinois, has been sold for $1,500,000. The property spans 1.2 acres and includes two 12,000 square foot office buildings. The buyer, a local developer, intends to redevelop the site into 22 multifamily units after obtaining rezoning from office to residential use.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,500,000
• Address: 100 West Roosevelt Road
• Market: Wheaton
• Asset Size: 1.2 acres
• Building Size: Two 12,000 square foot office buildings
• Broker: Randolph Taylor - eXp Commercial

eXp Commercial's Randolph Taylor facilitated the transaction, representing the seller in the deal. The local developer's plan for the property marks a shift from its previous office use, emphasizing the growing demand for residential units in the area.