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Committee advances sale of 7755 Perryville Road, staff recommends Next Generation proposal
Summary
The Machesney Park Administration Finance Committee advanced a resolution to select a buyer for 7755 Perryville Road after hearing competing proposals: Next Generation Development proposed three 21-unit apartment buildings (offer $250,000); Essex/Essex Development offered $255,000 for duplexes and small multiunit buildings. The matter moves to the full board for final selection.
The Machesney Park Administration Finance Committee on Jan. 20 advanced a resolution to select a buyer for 7755 Perryville Road and directed staff to draft a sale contract for board consideration.
Staff member Mr. James told the committee the 4.26-acre parcel is shovel-ready with utilities and off-site stormwater facilities and has been marketed for more than five years. "The village received three proposals from two developers for the subject property," James said, describing the two competing offers and recommending Next Generation…
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