Prime Development Land

South side of Orchard Road, between Randall Road and Oak Street, North Aurora, Illinois. The subject property is ±38 acres located at the northeast quadrant of Oak St. and Orchard Rd. in North Aurora, Illinois just northwest of the I-88 employment corridor and convenient to a large variety of shopping and entertainment amenities.The subject property presents a unique development opportunity for either commercial or residential developer. It is already annexed to the Village of North Aurora and zoned B-2/R-4 Mixed Use Planned Unit Development. B-2 zoning allows most commercial uses and R-4 allows high-density multi-family residential. Per the annexation agreement, the entire property can be developed as commercial, or the property can be developed as a mix of residential and commercial. Full-access signalized intersection planned for the property at Orchard Rd. The surrounding suburbs are running out of developable land and many subdivisions, complexes and commercial dwellings are at full capacity with little to no inventory. Suburban style walk-up rental apartments and townhomes would be the highest and best use for the site which will maximize the value of the residential portion of the land. The site enjoys business friendly community with low Kane County real estate taxes. The village will welcome big box retail developers offering variety tax incentives.