19.3 Acres of Mixed-Use Land for Sale in West Dundee, Illinois

Priced on a multi-family per unit basis, this strategically located development opportunity is near Springhill Mall and is an ideal infill site for new higher density residential development or possibly a senior or age-restricted facility. A large 20 +acre Dundee Park land is adjacent to the west serves as an amazing public amenity to the parcel. The zoning is in the process of being changed from B-2 commercial to multiple family in response to the proactive measures being considered by the village to stabilize and rejuvenate Springhill Mall. The existing commercial zoning was established long ago and while appropriate then, the changing economics of most regional malls calls for bold changes. Many regional malls are adding new multiple family housing projects where retail stores and office buildings once were the norm. To this end, the village is currently updating the comprehensive land plan, and the zoning of this parcel has been changed from commercial B-2 PUD to MF, multi-family. The existing TIF district supporting the mall is also being updated, and the tif boundary is being recast to include this property. The expanded TIF could help with infrastructure improvements such as storm water management, access roads, and utilities. Call the listing agents for more details and status.