Holladay Properties Acquires Development Site In Glen Ellyn For $2.8M

Essex Realty Group, Inc. has announced the sale of a redevelopment property located at 460 Crescent Boulevard in downtown Glen Ellyn, a western suburb of Chicago. The property spans 35,091 square feet and is situated on the northwest corner of Crescent Boulevard and Glenwood Avenue. The sale price for this development site was $2,825,000.

Summary of Transaction Details

• Asset Type: Development Site
• Transaction Date: 03/03/2021
• Address: 460 Crescent Blvd, Glen Ellyn
• Market: Glen Ellyn

The brokers from Essex Realty Group who facilitated the transaction were Jim Darrow, Jordan Gottlieb, and Brian Karmowski. Holladay Properties, the buyer, acquired the property to develop a mixed-use project called Glenwood Station. The proposed development will feature 1,490 square feet of retail space, 86 apartment units, and 102 parking spaces. Demolition of the existing 13,500 square foot structure is expected to commence in November 2021.

Brian Karmowski, Director at Essex Realty Group, expressed enthusiasm for the project due to the site's prime location in DuPage County, a highly sought-after area for developers interested in suburban sites.