Politics & Government
Bolander Park Sale to Pathway Senior Living is a No-Go
Would-be buyer claims increased interest rates to blame for pulling out of sale, reported the Daily Herald.
Pathway Senior Living, LLC, which submitted a letter of intent to the Village of Libertyville to purchase the Bolander Park property on Winchester Road, has now backed out, reported the Daily Herald.
Just as the village was preparing a real estate contract for the sale price of $2.05 million, Pathway withdrew its intent to purchase the 5.27-acre property because of concerns for rising interest rates, according to the Daily Herald story.
Village officials say they have a number of other strong offers for the property they will be considering.
Read the full story at www.dailyherald.com.
Trustees agreed in Sept. 2012 to sell the property because it was determined to be underused, reported Patch.
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