Perfectly located at the intersection of Highways 162 & 157 & 1 mile south of I-270. Currently under major highway construction improvements! The B-4 Commercial Zoning affords many possibilities. There are currently 19 storage units and 2 billboards for leasing income immediately until that time when a major development could be established. The Village of Glen Carbon is choosing a company to do an independent feasibility study which is required under the Statewide Innovation Development & Economy Act. After the Village receives enough money from Master Developer Destination Illinois LLC to cover the expenses they will hire a firm to complete. In February trustees approving STAR bonds district plan , and asking the state to designate it as a "NOVA district." Governor Pritzker approved the NOVA district in May 2026. STAR bonds are a state authorized economic development tool that can finance large tourism, entertainment or retail projects with new sale tax revenue generated within a designated area. The bonds are repaid over time from additional sales taxes generated by the project. The proposed district includes about 1,534 acres across 57 parcels at the Southwest corner of I-270 South to State highway 162 & bordering State Highway 157 on the east side. The 12.51 ares is not in the district but this development would make this location one of the most sought after properties available for development opportunities! The existing 3 story farmhouse and all outbuilding are being sold (AS IS) There is approximately 1000 ft of Highway frontage on 157. Possible redevelopment with 3 or 4 large commercial lots for retail, shopping or office buildings.
