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JV Buys Land for $50M Antioch Marketplace

ANTIOCH, IL-Within 12 months, V Land Corp. and Equibase Capital will break ground for a 600,000-sf power center on 78 acres along Route 173 just west of Deep Lake Road.

By Marita Thomas | Updated on October 18, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

ANTIOCH, IL-A joint venture between Chicago-based V Land Corp. and Equibase Capital Group LLC has acquired two adjacent parcels of farmland aggregating nearly 78 acres for development of Antioch Marketplace, a 600,000-sf retail power center. The property, located along Route 173 just west of Deep Lake Road, is across from a Super Wal-Mart and new Menard’s supermarket.

Steve Panko, V Land’s president, says he anticipates approvals with a scheduled ground breaking within 12 months and completion in 2008. “The Village of Antioch has had this project in the works for 10 years,” he says, “but we were finally able to reach agreement with local landowners.” Those landowners are Upton Properties Inc. and Larry Cohen. Chris Pope of Westmont-based John Pope & Associates represented V Land and has been retained to market the retail development.

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