Top sales of the year
Add comment November 7th, 2007
I don’t have much new to say on real estate this week so I thought I’d look in our real estate database to see what are the top land deals of the year. It’s always interesting to see what things are selling for.
In August, a 580,000-square-foot industrial building in Rochelle sold for $26.8 million. That’s the priciest land do so far in 2007.
In July, Zeman Home and Neighborhoods bought the 117-acre Forest View manufactured home park for $14 million.
In October, Kerasotes sold ShowPlace 14 in Machesney Park to an entity called National Retail Properties for $11.8 million. Kerasotes sold ShowPlace 16 in 2005 for $20.9 million.
In June, the Extended StayAmerica at 653 Clark Drive in Rockford was part of a national sale of extended-stay hotels by New York-based BlackStone Group. The 104-room Extended StayAmerica was $8.5 million of the deal.
In September, OSF Healthcare System bought the Featherstone Clinic for $8.3 million. OSF Saint Anthony Medical Center now is operating it under the name OSF Specialty Clinic — Guilford Square.
In September, the former Pool-A-Rama building at 7511 Park Place, Loves Park, sold for just less than $8 million.
In August, a pair of apartment complexes, 6526 Spring Brook and 347 Trainer Road, sold for $6.8 million.
In January, the Grand Victorian, an upscale senior housing home at 3495 McFarland Road, sold for $6.1 million.
In June, 181 acres on Cherry Valley Road sold for $5.3 million.
In May, Petry Trust No. 1989 — an entity of Petry Trust, the area’s third largest home builder, bought nearly 128 acres of farmland along Illinois 173 and Swanson Roads for about $5.1 million.
In May, the old Colman estate at 4102 Spring Creek Road sold for $1.4 million, in what may be the highest price paid for a home in Rock River Valley history.
The largest purchase by a taxing body was Hononegah High School District’s $1.57 million purchase of a farm on McCurry Road in September.
For cities and counties, it’s been a quiet year. The largest deal has been by Boone County, which bought 14.7 acres along U.S. 20 in July for more than $550,000.
So even though houses aren’t selling in record numbers, the price of commercial property continues to soar.
