Press release

SVN / Ramshaw brokers sale of historic Pell Farm

URBANA, ILLINOIS - June 4, 2010

Sperry Van Ness / Ramshaw Real Estate senior advisors Jerry Ramshaw and Alex Ruggieri have brokered the sale of Pell Farm for the University of Illinois Foundation.

SVN / Ramshaw had just listed the property in January 2010, at a sale price of $3.2 million. A private buyer purchased the land, closing May 4.

"It's an incredibly desirable piece of property," Ramshaw said. "You just don't find rolling terrain like this in the Champaign area."

Located at the southern edge of Urbana, the 160-acre Pell Farm borders the wonderful Meadowbrook Park and provided a home to the university's vineyards and orchards for more than 50 years.

"You couldn't ask for better amenities," Ruggieri said. "There's the booming commercial zone on one side, Meadowbrook on the other, and of course the University a mile away." The city of Urbana's comprehensive plan calls for the land to be annexed into the city and eventually be developed into a conservation-style residential and commercial development.

If you'd like more information about Pell Farm or Sperry Van Ness / Ramshaw Real Estate, or to schedule an interview with Mr. Ramshaw or Mr. Ruggieri, please contact Bill Bowman at (217) 693-4950 or email bbowman@ramshaw.com.