Large plots of Lake Michigan frontage don’t often go up for sale, but now the U.S. Navy and Forest City Enterprises Inc. are selling a 37 acre plot of land right on the lake. The property was previously a part of the Fort Sheridan military complex and spreads across the suburbs of both Highwood and Highland Park. It includes 1,100 feet of Lake Michigan frontage.
The listing agent for the property is targeting buyers who are resort developers as well as communities, homebuilders and even the wealthy who might want to build a home. The current asking price is $25 million and early inquires have already been received from both housing developers and high-net-worth individuals. Since the land was used as part of a military zone, it will need to be rezoned by whomever buys the property. The U.S. Navy is putting this plot of land on the market to fund and revamp military housing elsewhere.
For those who have more conventional housing desires – or simply those on a more reasonable budget – Chicago has fantastic inventory of downtown condos, lofts and townhouses currently available.