Brown negotiates land transaction for new townhomes

Bisnow’s Chicago Deal Sheet

June 25, 2024 — As part of the Bisnow weekly roundup of top commercial real estate stories in Chicago, the publication featured a recent land transaction by Brown Commercial Group.  Broker Pat Crowley negotiated the sale of 9 acres of land at Lies and Fair Oaks roads in Carol Stream, IL that will become a new townhome development. Bridge Street Properties purchased the land and is developing it in partnership with Pulte Homes. The Villas of Fair Oaks community will feature 32 two- and three-bedroom townhomes with two-car garages.

Chicago land transaction details

The property is located northwest of County Farm Road and North Avenue, two major thoroughfares in the western suburbs. The land transaction site is close to golf courses, a variety of dining options and local restaurants and retail establishments.

“This transaction was ideally suited for residential development given its location and proximity to other housing communities,” said Crowley. “At Brown Commercial, we are always evaluating market conditions and demand drivers in order to find the best use for a property.”