2000 Liberty Ln, Zion, IL 60099

This offering presents an opportunity to acquire an incomplete subdivision, the second phase of Shepherds Point, situated in Zion, Illinois. The site, originally conceived and developed by a national home builder, experienced a halt in construction around 2008 due to bankruptcy proceedings. The current owner acquired the site and completed ten units, enhancing the original plan with new roofing, exterior stone veneer, HVAC upgrades, garage door systems, and interior finishes. The property comprises 40 separate parcels, totaling approximately 17 acres. The Planned Development was previously approved for 189 residential units and a commercial pad at the northwest corner of 21st St. and Kenosha Rd. Infrastructure, including roads, water, and sewer, has been installed, and several foundations have been poured. Ten residential units have been completed as two 5-unit buildings, in accordance with the original development plan. A developer may choose to utilize the existing infrastructure to complete the original plan with revisions or develop a new plan capitalizing on the in-place improvements. Plans are in place for the relocation of the subdivision entrance as part of the widening and traffic signal installation at the intersection of 21st Street and Kenosha Road, which will likely necessitate a revision to the original development plan. The unit mix of the ten completed units includes two 2-bedroom/2-bath/bonus units, four 2-bedroom/1.5-bath/bonus units, two 2-bedroom/2.5-bath/bonus units, and one 1-bedroom/1.5-bath/bonus unit. The site is vacant and secured with alarm systems on the vacant units. Previously approved plans and municipal approvals may require revision or update with the municipality in conjunction with the relocation of the subdivision entrance.