The 23.4-acre property is a collection of grain elevators that the State of Illinois has owned since 1928.
The buyer operates a fleet for waste hauling and off-site storage.
Activists are expressing concern about the future use of the property and how it could impact area residents.
"It is harmful when the state of Illinois makes important decisions about the future of any community without involving them in the process. This decision is deeply problematic based on the process alone," Alfredo Romo, Executive Director of Neighbors for Environmental Justice.
The silos were first built in 1906 and had the capacity for 400,000 bushels of grain.