Mill Race Industrial Park Stephenson County Illinois / Stephenson County Board OKs rules for marijuana cultivation center

Great news for Century 21 Affiliated.  At the Century 21 Affiliated Rockford Illinois office the Real Estate Rescue Team (Gerard DuMelle and Steven Niemczyk)  Listed a Stephenson County IL owned Mill Race Industrial park approx 147 acres in Stephenson County.  The Park is divided up into 15 Lots and has been listed since November 2013.  Prior to us listing the property it was listing by another commercial real estate company with no luck getting it sold or developed after several years.  Since we have listed the property we have had many interested parties inquire about the property.  This is the most recent story about the property that we would like to share.  If anyone has any industrial end user client please forward listing information to them.

Mill Race Industrial Park ICEX Listing Information

Stephenson County Board OKs rules for marijuana cultivation center

By Jeremy Sharp
The Journal-Standard

May 29. 2014 4:17PM

Stephenson County Board OKs rules for marijuana cultivation center

FREEPORT — The Stephenson County Board has set the terms for medical marijuana facilities operating in Freeport.

The board continued its meeting Thursday and approved a purchase agreement, 14-6, for any company that wants to grow medical marijuana at Mill Race Crossing, the county’s 147-acre parcel that has been dormant for eight years.

The board postponed a decision May 15 to consider other offers and determine potential utility enhancements that would be required.

The details of the agreement include a $3,000-an-acre price tag and $25,000 down in earnest money. County Board member Jeff Mikkelsen said medical marijuana companies would have to build structures and “improve the property to the extent of $1 million,” which is expected to generate $65,000 in annual property tax.

Illinois is allowing 21 cultivation centers and 60 dispensaries. One will be in State Police District 16, which covers Boone, Winnebago, Stephenson and Jo Daviess counties.

“We would like to be that license holder in Stephenson County,” board Chairman Bill Hadley said. “We would like to bring the jobs to our community. We would like to bring the revenue to our community.”

The potential buyer would mark the first sign of development at Mill Race since Stephenson County borrowed $6 million in 2006 and bought the land just east of town.

The Planning and Development Committee met Wednesday with four representatives from The Med Farm, another cultivation company hoping to locate near Freeport.

The committee and a few residents heard the company’s plea for public support of Med Farm’s state application efforts to become a licensed cultivator in Stephenson County. Med Farm is one of the companies in such talks with the county.

“There’s not a whole lot of new American industries that are spawning like this that are going to grow like this,” President Jeff Basler said in the meeting. “You gotta get one.”

Med Farm wants to set up shop on a 26-acre parcel at Mill Race. If the company’s operation were up and running next spring, Basler said, it would bring 15 to 20 jobs to the area along with a 40,000-square-foot greenhouse and 20,000-square-foot processing center, with the potential to double the number of jobs after a couple of years.

“The (licensing) application form has a point system,” said Mikkelsen, the committee’s chairman. “Among other check-off points ... is community support, so they were quite clear that they wanted that.”

Any medical marijuana company looking to operate at Mill Race will include the purchase agreement with its state application. No official timetable has been released for when applications are due.

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