Search
 

New Illinois Nature Reserve Adjoins Office Development

ELGIN, IL - Developer PanCor leaves a 15-acre ravine undeveloped in the 40-acre site of the Randall Point Executive Center, which it is developing in far west suburban Elgin.

By Dees Stribling | Updated on November 30, 2000

ELGIN, IL – More than 75 Elgin-area residents, government officials and environmentalists recently came together for the dedication of Sleepy Hollow Ravine as a new Illinois Nature Preserve. What made the occasion unusual was that an Elgin-based developer, PanCor Construction & Development, had previously transferred the site to the Kane County Forest Preserve District, instead of developing it as part of the adjacent Randall Point Executive Center.

“If we had been dealing with different people, we wouldn’t be standing here,” Elgin Mayor Ed Schock said of PanCor at the ceremony. Discussions to preserve the ravine began in 1998 following PanCor’s purchase of the 40-acre site from Chicago architect and businessman Richard Barancik. The Grand Victoria Foundation, the City of Elgin and Kane County shared the cost of the land, with an additional contribution from Barancik. PanCor contributed the cost of building nature trails, a viewing pavilion, and landscaping as a buffer for the preserve. The developer also agreed to reduce the size of the office park development.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.