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Vacant Scott Foresman Campus in Glenview Relisted for Sale
Chicago-based developer R2 Cos. has relisted the former Scott Foresman office campus in suburban Glenview after local officials rejected plans to turn the site into housing. Core Spaces had been tapped to redevelop the 19.4-acre property at 1900 E. Lake Avenue into 140 single-family rental homes, but the company withdrew its proposal after a unanimous vote against the project from the Glenview New Development Commission, reported Crain’s.
R2 has listed the site, now vacant for several years, as a redevelopment opportunity with a wide range of possible uses. R2 has hired CBRE brokers Tom Svoboda, Marcello Campanini and Tony Gange to seek a buyer and lead marketing of the campus.
The most recent tenant, Savvas Learning, moved out in 2020, at which point the previous owner, an affiliate of Oak Brook-based Inland Group, stopped making loan payments. A joint venture of R2 and Wheaton-based T2 Capital Management acquired a $16.7 million mortgage on the property early last year.
