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Hawthorn Woods Parcel Will See Denser-Than-Usual Housing
Berger Asset Management (BAM) has completed the disposition of a 20-acre land parcel at the northwest quadrant of Old McHenry and Midlothian Roads in Hawthorn Woods, IL to K. Hovnanian, a national homebuilder based in Dallas.
Hawthorn Woods has endorsed Hovnanian’s plan for the development of approximately 70 homes on the property, a significant departure for a community in which custom homes built on parcels over one acre are the norm.
“Hawthorn Woods remains a very desirable residential location, but many homeowners don’t need the space or acreage associated with many of the luxury or custom home developments there,” said Jonathan Berger, BAM’s founder.
CBRE’s Brian Buckingham represented BAM and Hovnanian. He is also marketing for sale BAM’s adjacent 21.8-acre parcel. That parcel, along with the one that was just sold to Hovnanian, was acquired in a distressed sale a decade ago.
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