Homebuilder aims to buy DuPage Water Commission land for $14 million

A prolific homebuilder wants to buy a chunk of land near Naperville from the DuPage Water Commission.

Pulte Home Co. would pay the agency $14 million for the heavily wooded property along 75th Street, about a mile west of Route 53. Earlier this year, the commission declared it surplus property.

“We had talked about it for a while,” said Jim Zay, chair of the water commission’s board. “And honestly, DuPage is struggling to get housing, and so we thought this would be a good time to put the property out there and see. It’s in a good school district, a Naperville school district. So we thought this will be the time to unload it and get some money back for it.”

A Pulte representative declined to comment because the company is just starting its due diligence process. When asked when he expects the sale to be finalized, Zay said it all comes down to zoning.

The property is unincorporated, meaning Pulte could seek to have it annexed into a municipality.

“From what we’ve been told, it’s either Woodridge, the county, or Naperville,” Zay said. “So that’s up to Pulte and where they decide to go and what the agreement comes up with.”

The city of Naperville has not been contacted by Pulte about the property, according to a spokeswoman.

In the West suburbs, Pulte has developed Naper Commons near the Danada Forest Preserve, a Wheaton subdivision on the former Loretto Convent campus and Trillium Farm just south of Garys Mill and Roosevelt roads.

The 75th Street site was purchased prior to the original construction of the DWC system.

Only a small portion is used by the commission as a water storage site. Agency staff “does not believe the remainder of the site would ever be utilized for additional water utility infrastructure,” according to a February board meeting packet. So staff recommended that a piece be retained for commission purposes.

“We just don’t need the property,” Zay said Wednesday of the unoccupied section. “It’s just been sitting there … it’s been costly to maintain it. That tornado that rolled through a couple years ago through the Naperville area hit that property, and we lost a lot of trees.”

The commission solicited offers for the property. MaRous & Co. appraised its value at $10.8 million.

“There’s some wetland issues on the property, so depending on who, what developer you talk to, how many parcels you can get on it, we felt that Pulte’s proposal was the best, and if they can get more homes on it, there’s a provision in there for us to receive more money,” Zay said of the agreement.

That provision calls for $233,000 for each additional lot approved beyond 60 lots.

Zay noted Commissioner David Russo, who works in the development business, “spearheaded this and did just a ton of work on it and got us really the best offers.”

The commission delivers Lake Michigan drinking water to cities and villages across DuPage. Last year, the agency announced contracts to provide water to the Kendall County communities of Montgomery, Oswego and Yorkville.

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