CHICAGO (WBBM NEWSRADIO) — Residents of an entire Bensenville subdivision have been permanently removed from their homes for over a month, making way for warehouses over its 68 acres.
Industrial developers bought more than 100 homes in the Mohawk Terrace subdivision in Bensenville and have already begun tearing them down. In their place will be more than a million square feet of warehouses and possibly manufacturing facilities.
Village manager Evan Summers told the Daily Herald homeowners received well over what their homes were worth. He called that a testament to what industrial real estate is going for.
For instance, a 53-year-old, one-story brick house sold for $475,000, more than twice its estimated fair market value. The property is on the outskirts of O’Hare International Airport.
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