The Trustees of Elk Grove Village have signed a buy and sell agreement with Illinois I&LL, LLC, a subsidiary of Brennan Investment Group to purchase a property at 1500 E. Higgins Rd. For $ 7.5 million.
The purchase of the property, and another Elk Grove Village mayor, Craig Johnson, said he hopes to see the fence closed by the end of October, should give the village ownership of most of the land between Busse Road and the curve of Higgins Road, on both sides of Oakton. Street.
Johnson said the village also hopes to close a mall adjacent to Oakton and Busse that contains Polish restaurant EJ Pierogi, Oakton Oil Change and Oakton Auto Express by the end of October. The village already owns the former Elk Grove Hotel and Motel 6 sites, both located in the 1600 block of Oakton, just west of the Strip Center in the 1700 block of Oakton.
A few blocks west of the two old hotels is the new Elk Grove Technology Park, developed by Brennan Investment Group.
At the eastern end of the 1.2 million square foot park, Microsoft is building the first of three data center buildings on 36.6 acres. Most of the west end of the technology park is fully leased.
Johnson said the land adjacent to the tech park is becoming increasingly valuable as tech companies will want to locate near Elk Grove Village.
The village has been working for some time to acquire the 1700 Oakton Strip Center. The owners of EJ Pierogi announced on Facebook that they have been granted a new location to move in and will be moving within the next three months.
Trustees approved the sales contract with Illinois I&LL, LLC at the village board meeting on Tuesday, August 17.Support local news by subscribing to Journal & Topics in print or online.