Crain's is reporting that the Navy has partnered with a subsidiary of Forest City Enterprises to unload the last remaining chunk of developable land in historic Fort Sheridan along with 15 1930s duplexes. The duplexes, containing 30 three-bedroom units, belong to the National Register of Historic Places and qualify for rehab tax credits— something they sorely need. The bulk price on the duplexes is $2.8M or $186K per. The neighboring vacant land measures 4.13 acres and has no zoning attached to it due to its federally-owned status. It's being marketed as space for 15 single family homes. The land is listed for $1.75M.
Fort Sheridan, straddling parts of north suburban Highwood, Highland Park, and Lake Forest, was decommissioned as a military base in 1993. Most of its physical assets were sold to residential developers, who restored many of the old housing structures (some dating to the 1880s) and added new ones. Contained within a 110-acre National Historic District are Holabird & Roche's military barracks flanking a stunning water tower. The duplexes in question today are a generation newer, but equally rare and intriguing. Whether or not you're destined for the 'burbs, Fort Sheridan is worth a drop in.
·Navy aims to jettison North Shore properties [Crain's]
·Listing: 15 Single-Family Home Lots in Fort Sheridan (PDF) [CBRE]