Chicago-based developer R2 Cos. has relisted a former office campus in suburban Glenview, Illinois after local officials rejected plans for its redevelopment into housing. The 19.4-acre property at 1900 E. Lake Avenue is now available for purchase with a variety of potential uses, as listed by CBRE brokers Tom Svoboda, Marcello Campanini and Tony Gange.
The site was previously occupied by Savvas Learning until their move in 2020 and the previous owner stopped making loan payments shortly after. In early last year, R2 and Wheaton-based T2 Capital Management acquired the $16.7 million mortgage on the property.
This vacant campus presents an opportunity for interested buyers to transform it into something new under new ownership.
