D.202 sells 40-acre site to Northern Builders, Inc. for $3.6 million
Site on the northeast corner of 127th Street, Kings Road once considered for school facilities
Last updated 1/15/2020 at 1:43pm
Plainfield School District 202 has sold a 40-acre site that was once considered for school facilities.
Northern Builders, Inc. has purchased the land at the northeast corner of 127th Street and Kings Road for $3.6 million.
The plot is located between a residential neighborhood south of the Bolingbrook Golf Club and the rear of a logistics park along Interstate 55.
According to the district, the new owners may seek to have the property annexed into the Village of Bolingbrook.
“It is the opinion of the school district that the real estate has become unnecessary for the uses of the school district,” said a resolution issued last month by the school board.
The land was put up for auction Jan. 10 and the school board approved the sale three days later.
According to the terms of the sale agreement, the land is being divided into two parcels and the new owner has 30 days after village approval to close on an 11 acre parcel for $1,368,000. T
he remaining 29 acres must be paid for by 2025.