CBRE to Market New 127-Acre Logistics Park in South Suburban Cook County
10 Nov 2020
CHICAGO – November 10, 2020 – CBRE has been retained by Scottsdale, Ariz.-based Diversified Partners LLC to market a new 127-acre logistics park at the former Calumet Country Club in south suburban Cook County.
CBRE’s Jason Lev, John Suerth and Jimmy Kowalczyk will represent Diversified in the listing.
The site will offer approximately 800,000 square feet of high-profile, state-of-the-art logistics facilities. Buildings and sites will be ideal for ecommerce users, offering space to store more than 1,000 trailers and terminal facilities with hundreds of doors. Redevelopment of the site will include new area infrastructure, roadway improvements, traffic signals, flood mitigation, additional landscape buffers, and green space beautification on all sides of the proposed project. Plans for the site include parcels for four industrial buildings as well as parcels for a fuel station and a convenience store. This activity will bring an estimated 650-1,000 new jobs to the area.
Located in the South Chicago industrial market, the logistics park will have excellent access to downtown Chicago, which is only 25 miles away, making it ideal for a last-mile distribution facility. The site also has immediate proximity to Interstates 80, 94, 294 and 57, allowing for swift distribution to the entire Chicago area and the greater Midwest region. Additionally, the site benefits from close access to Midway International Airport and Gary International Airport and proximity to the CN intermodal directly east of the site.
Demand has driven industrial vacancy to all-time lows in the Chicago market, with overall vacancy at 2.6 percent. The South Chicago market is even tighter, with a current vacancy at 1.3 percent.
“This is a rare opportunity to establish a distribution center with this level of access to the Chicago market, as well as have the ability to design a facility with trailer-storage-ratio greater than any industrial park in the region,” said CBRE’s Lev. “There is incredible demand for more product in this area and we expect this new logistics park to draw interest from corporate users, ecommerce firms, national retailers and third-party logistics companies that are looking to strengthen their supply chain capabilities in Chicago.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.