Posted On
CHICAGO – Newcastle Limited* has been retained by Chicago-based Metropolitan Family Services (MFS) to conduct a sealed-bid offering to sell the 116-acre Camp Algonquin on the Fox River in unincorporated McHenry County, announced Michael R. Haney, President of the Chicago-based real estate firm. Newcastle Limited is a national real estate advisory and development firm serving not-for-profit organizations, institutions, investors, corporations and governmental agencies.“This is a once-in-a-lifetime opportunity to acquire one of the last contiguous sites on the Fox River. This wooded land features approximately 2,000 lineal feet of river frontage, 60 acres of green space including seven acres of meadowland, three natural streams, and 56 acres of campground facilities with hiking trails, 35 cabins and support building, and a pool,” said Haney. The deadline for submitting proposals is Monday, March 29, 2004. The camp, which hosts 14,000 campers annually, will continue operations through November of 2004.The land, located in Algonquin Township, is surrounded by Algonquin, Barrington Hills, Cary and Lake in the Hills. It is only four miles southwest of the Cary Metra station and has excellent access to I-90, I-53 and all major regional roadways. According to Haney, the land is ideal for residential, recreational and/or conservation uses.After completing a strategic review of its programs and services, the MFS Board of Directors decided to discontinue offering camping services and use the proceeds from the sale of Camp Algonquin to enhance school- and home-based youth development services, programs aimed at preventing family and youth violence, and healthy-family initiatives at its community centers in seven communities through metropolitan Chicago. “We regret having to discontinue our camping services, but given the current economic environment and the tremendous pressure on funding for human services, we must ensure that our resources are allocated to program areas that have the greatest impact,” said Dr. Richard Jones, President and Chief Executive Officer of MFS.MFS, organized in 1857, is one of Chicago’s oldest and largest human services agencies. It operates community centers on the north and south side of Chicago, Palos Heights, Skokie/Evanston and DuPage County. Each year, it assists nearly 90,000 families and individuals with a wide range of programs and services, designed to help strengthen families and communities in Chicago and the suburbs. To learn more, visit MFS’s website at www.metrofamily.org.
Recently Newcastle Limited represented the YMCA of Metropolitan Chicago in the disposition of its 254-acre former Hastings Lake campground site to the Lake County Forest Preserve District. The firm also represented Loyola University Chicago in the disposition of its 17-acre Mallinckrodt Campus to the Wilmette Park District.
About Newcastle Limited
Chicago-based Newcastle Limited is a national commercial real estate firm serving governmental agencies, institutions, not-for-profit organizations, corporations and private investors. The firm’s strategic advisory, development and investment services are designed to reduce project risk and maximize asset value. To learn more about Newcastle, call Mike Haney at (312) 252-1401 or visit the company website at www.newcastleinvestors.com.