A Tennessee-based developer recently purchased 23 acres of land on far north Seminary Street but it currently has no plans for the property.
Big Hat Development Company, LLC, a family-owned and operated commercial real estate company based in Knoxville, Tennessee, purchased the 23.06 acre tract of land across from OSF St. Mary Medical Center, bordering Bunker Links Golf Course and near the US 34 interchange with Seminary Street on Wednesday. According to records from the Knox County Assessor Office, the sale price of 3250 N. Seminary St. was $420,000.
“The company I work for felt it was a good piece of land for a fair price,” said Chase Kuerschen, a property manager for Big Hat Development. “So there are no plans at this time.”
Kuerschen said Big Hat owns several logistics or distribution centers in the Midwest, but added, “I don’t think the zoning would allow for that, at that location. So you’re probably not looking at the transportation or industrial-type use for that tract.
“They could sell it, or may build to suit — it’s really an open book at this time.”
The land at 3250 N. Seminary currently is being utilized to grow corn.
Big Hat Development owns a transportation facility in Danville, its lone Illinois property. It has properties for lease in Lafayette, Indiana, and Tyler, Texas.
