Advocate Healthcare Acquires Site In Huntley, Illinois From Horizon Group Properties, Inc.
PLANS MEDICAL OFFICE BUILDING FOR SITE
NORTON SHORES, Mich., March 27, 2015 /PRNewswire/ -- Horizon Group Properties, Inc. (OTC: HGPI) today announced that it has sold 5.9 acres of land in its master-planned development in Huntley, Illinois to Advocate Healthcare. Advocate plans to use the land as the site for a medical office building. Advocate Healthcare is the largest health system in Illinois and has been named among the nation's top 5 large health systems based on quality. The site is on the northwest corner of the interchange of Interstate 90 and Illinois Route 47, which was recently improved to be a full four-way interchange.
Life Spine, Inc. recently announced that it is moving its corporate headquarters to an existing building in the Huntley development adjacent to the Advocate site. Life Spine is a medical device company that designs, manufactures and markets products for the surgical treatment of spinal disorders.
Rush Truck Centers also recently acquired a building in the Automall portion of the Huntley master-planned development. Rush is the premiere solutions provider for the commercial vehicle industry with over 100 locations coast to coast. Rush intends to modify and expand the existing building.
The recent completion of the four-way interchange of Route 47 and Interstate 90 has resulted in over 21,000 vehicles per day traveling on Route 47 in addition to the 62,000 vehicles traveling past the interchange on Interstate 90. The Huntley master-planned development has zoning in place for retail, office, hotel, warehouse and limited residential uses. All of the parcels are fully entitled and utilities are currently in place.
About Horizon Group Properties, Inc.
Based in Norton Shores, Michigan with executive offices in Rosemont, Illinois, Horizon Group Properties, Inc. is a leading owner and developer of factory outlet shopping centers in the United States and Asia and is the developer of a master-planned community in suburban Chicago. For more information, please visit www.horizongroup.com.
SOURCE Horizon Group Properties, Inc.
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