ELMHURST – Nitti Development will buy the Berteau Campus property from Elmhurst Memorial Hospital.
The developer and hospital have reached an agreement on the sale of the 11-acre site and expect to close the deal in the spring, according to a news release.
After seeking and receiving multiple offers for the property in an open bidding process that was managed by broker CBRE, the hospital will sell the land to Nitti, the release stated.
Nitti, based in Glendale Heights, specializes in building and developing residential and commercial projects. The developer plans to build homes on the Berteau site, according to the release.
In 2011, Elmhurst Memorial moved to a 50-acre location at 155 E. Brush Hill Road.