Ryan R. Marshall Of PulteGroup Purchases 32 Acre Development Site In Naperville For $14M

A 32-acre development site located on the South Side of 75th Street in Naperville, IL, has been placed under contract for $14,000,000. The property is currently undeveloped, and the buyer, PulteGroup, plans to build a 94-unit duplex development called Naperville Ridge. The purchase price exceeds the property’s appraisal of $10.8 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,000,000
• Buyer: Ryan R. Marshall - PulteGroup
• Seller: Paul May - DuPage Water Commission
• Location: South Side of 75th Street, Naperville, IL
• Acres: 32

The transaction has faced local opposition due to environmental concerns, although the project includes designated conservation areas. The involvement of the DuPage Water Commission indicates a significant public utility's role in the sale of the land to a residential developer.