Andover Crystal Lake LLC Purchases 10 Acres Of Land In Crystal Lake For $1.1M

The transaction involves the sale of a 10-acre parcel of vacant land located at 4202 Three Oaks Road in the Crystal Lake market. The property was sold for $1,100,000 to Andover Crystal Lake LLC, facilitating an expansion of Oakbrook Estates, a retirement community. The land has been annexed into the city and is rezoned for residential use to meet the local demand for more affordable housing.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $1,100,000
• Buyer: Andover Crystal Lake LLC
• Seller: Vistas Crystal Lake LLC
• Broker: Brian Bocci - Entre Commercial Realty
• Acres: 10
• Date of Sale: 01/29/2025

Brian Bocci from Entre Commercial Realty represented the broker in this transaction. The acquisition of the land is strategically aimed at supporting the growth of a retirement community, underscoring the importance of addressing housing needs in the area.