A bump in the road. Not a long-term problem. That’s how the industry experts speaking at Chicago Industrial Properties’ 21st annual Chicagoland Supply Chain, Distribution & Logistics Summit described the current slowdown in demand for industrial space in the Chicago market.
During the event, held Oct. 29 at The Carlisle in Lombard, Illinois, attendees emphasized that while demand for logistics and distribution space has slowed, and new construction has done the same, the underlying fundamentals of this sector remain strong.
Because of that, speakers predicted that 2025 would see a gradual but steady return of demand for these key industrial spaces. After all, Chicago remains one of the strongest industrial markets in the country. That isn’t changing.
The first panel, Today’s Capabilities in Warehouse, Transportation Management, Design & Construction, kicked off the summit on a high note, as panelists shared their expertise during a wide-ranging discussion. The upshot? The future of the Chicago industrial market is strong, and this sector is always evolving.
Participating in this panel were Howard Green, Executive Vice President, Meridian Design Build; Werner Brisske, Principal, Partners in Design; Cameron M. Trefry, Regional Vice President, Ware Malcomb; and Sean Keeley, Managing Director, Keeley Construction, Inc.
The summit continued with the day’s second panel, Development, Supply Chain and Capital Markets Update. Panelists acknowledged the slowdown in today’s Chicago industrial market. But also predicted that 2025 would be a better year thanks to the sector’s strong fundamentals.
Speaking on this panel were Kelly Disser, Executive Vice President, NAI Hiffman; Rachel Agba-Novak, Vice President Transactions & Development, Hillwood; Sam Brashler, Vice President Retail/e-commerce Distribution, JLL; Michael Clewlow, Vice President Acquisitions, Venture One; George J. Cibula, Managing Broker, DarwinPW Realty/CORFAC International; and Daniel Smith, Vice President, Brennan Investment Group.
