EDWARDSVILLE — It’s official, Madison County‘s Plum Street property is sold.
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“In real estate, it’s never sold until it’s closed,” Chairman Kurt Prenzler said. “The sale isn’t official until the deed is conveyed
On Tuesday, Prenzler signed the closing paperwork on the nearly 14 acres at Madison County Title Company. In February, The Staenberg Group, a multi-state development company with offices in St. Louis and Denver – offered $3.86 million for the county-owned property at the intersection of Illinois 159 and Governor’s Parkway.
The company was the sole bidder on the land the county put up for sale in January. The county board approved the sale in March.
The company paid the property’s appraised value. The company is also developing the nearby Orchard Town Center in Glen Carbon.
Prenzler said the county wanted to sell the site so it did not have to maintain it, and to eliminate the county’s liability. The sale proceeds will go toward county capital improvements and projects.