In addition to a bank, Preferred Development also plans to build commercial space.
Preferred Development has built retail space for such companies as Hollywood Video, Office Max, Pier 1, Staples, Starbucks and Walgreens.
"This property was attractive to the buyer because of its prime location in a fast-growing area," says Sperry Van Ness/AML Commercial Real Estate Advisors senior advisor Albert M. Lindeman, noting a location near I-90 and the O'Hare/Elgin Expressway.
Lindeman South Barrington-based Barrington Development in negotiations with Jim and Jeff Mueller of Chicago-based Mueller Real Estate, which represented Preferred Development.
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