In a formal way you can say something like:

“dans l’attente de votre réponse veuillez agréer mes salutations les plus respectueuses”

it means : I look forward to hearing from you

In a non-formal way, you can say this:

Je vais voir cela

This means that will will look at it, think about it.

J’y songerais

This means that you will think about it, but you are still uncertain.

The “less formal” way to say it is:

Je vais voir cela et je vous tiens au courant

This means that you will think about it and that you will contact him if things happen.

There is no real translation

In this case, “I’m looking forward to it” could also mean “I can’t wait to see it”. It is the way it will be translated into French, expressing the “I’m excited” idea, but in a more formal way. Here are a few examples of correct and formal translations :

Je suis pressé de voir ça

or

J’ai hâte de voir ça

or even

Je suis emballé par ça ! (this is quite unformal, to be honest.)

**EDIT : **
As Stéphane pointed in the comments, I suggest another, way more formal way to express this.

Je me réjouis d’avance

Where “Je me réjouis” expresses happiness, and “d’avance” refers to the future, when you get thing you are actually waiting for.

As a non-native speaker, I would say..Je serais vraiment content de le reçevoir. or ça sera mon plaisir de le recevoir. This means… I’ll really be glad to receive/get it. It will be a pleasure to receive it. Looking forward to something suggests the future… Also, I believe that a French teacher teaching everyday French said that something like ..Je l’attend avec impatience! or Je suis impatient de le reçevoir/voir Both suggest a sense of anxiously (in a good way; not worried) awaiting something/to receive/see something…I hope a native speaker can clear this up for us. Very interesting site!..

Source: Handbook of Commercial French (G. Geoghegan and G. Gonthier Geoghegan).

Apparently out of print.

English letter

(…)

We are sure you will be satisfied with the quality of our products and
look forward to receiving further orders.

French corresponance/interpretation

(…)

Dans l’espoir que vous apprécierez la qualité de nos produits et que
nous aurons l’occasion de traiter à nouveau avec vous, nous vous
prions de recevoir, cher Monsieur, nos sentiments les meilleurs.

Other examples

I look forward to seeing you while I am in…

Dans l’attente de vous rencontrer au cours de mon séjour à…

I am looking forward to meeting you.

Dans l’attente de vous rencontrer.

We look forward to receiving your reply.

Dans l’attente de votre réponse.