CHALLENGE

The seller, Fritz Duda Company (various LC’s), appointed Colliers as its exclusive agent to market and sell it’s 602 acre farm, located in Barrington Hills that was assembled from the acquisition of smaller contiguous farms over an number of years for a master planned residential, golf and equestrian development. The proposed development ultimately did not receive the necessary municipal approvals. Subsequently, ownership decided to sell the property.

Strategy

The project team’s marketing approach was to target residential developers, conservation land funds/trusts, the McHenry County Conservation District, organic farmers and investors/speculators. Colliers prepared a complete electronic marketing program, which included a detailed “offering memorandum” inclusive of property information, aerial photos, location maps, community information, demographic information and terms of sale and confidentiality agreement.

RESULTS

The Colliers team completed the 602 acre sale of Barrington Hills Farms to a single buyer through a competitive bid process resulting in a sale price substantially in excess of its client’s expectations.