Land Acquisition for Development

November 2016

FIDES Investment, LLC (“FIDES”) announces its tenth joint venture with a high net worth family office for the acquisition of a land parcel slated for development in downtown Highwood located at the SW corner of Green Bay Road and Washington Avenue.  The parcel, which was previously improved with a restaurant, is strategically located in downtown Highwood and just two blocks from the Metra commuter train station and all the downtown retail, restaurants and other amenities.   The site boasts a very strong walk score of 79.    Before closing on the parcel, FIDES rezoned the property which is now approved for a 4-story 28-unit luxury apartment building.  Additionally, FIDES worked closely with the village to obtain TIF financing to offset some of the infrastructure costs. “This off-market transaction represents a very unique investment opportunity when coupled with the increased density and TIF financing,” said Gregg Handrich of FIDES.  “Highwood has a tremendous Northshore location and boasts some of the best restaurant options in the area.  The lack of new rental options in this community creates a compelling development opportunity that we are excited to undertake.“  FIDES will oversee the development and asset management for the partnership.