Crain’s Chicago Real Estate Daily is reporting that a joint venture of the U.S. Navy and Forest City Enterprises is selling 37 acres with 1,100 feet of Lake Michigan frontage at the former Fort Sheridan military complex. The asking price for the property, which is in Highland Park and Highwood, is $25 million.
Although the property will attract real estate developers, there’s speculation that it might draw bids from wealthy individuals seeking to build what might be the largest lakefront estate on Chicago’s North Shore.
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