Politics & Government
Naperville Sells $2M Of Land, Warehouse Expected
The City of Naperville made a $2.2 million deal to sell land in the Industrial District to a company planning to build a warehouse.
NAPERVILLE, IL — The City of Naperville is selling 8.2 acres of land near Frontenac Court and North Aurora Road, according to the Naperville Sun, for just over $2 million. The buyer, IPT Acquisitions, plans to build a 131,000 square-foot warehouse.
City Council members on Tuesday approved the $2.2 million dollar deal in selling part of the city's 21-acre property in the Industrial District.
The Sun reports city documents as saying the property has been up for sale since March 2017, and finally sold to IPT for well over its appraised value of $1.9 million. The remaining 13 acres will remain in the city's possession, and could potentially serve as a train station.
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City Manager Doug Krieger said the money was going into a general fund to help offset for less money coming from the state, according to the Sun.
See more at the Naperville Sun
Find out what's happening in Napervillefor free with the latest updates from Patch.
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