Colliers recently arranged Clarius Partners’ acquisition of a 74.96-acre vacant land site on University Parkway, east of Central Avenue, in University Park, Illinois. The seller was a private investor.
The planned development will be primed for large logistics operations and include a 970,123-square-foot, cross-dock warehouse facility.
The development will feature 40’ ceiling height, up to 475 trailer stalls, 162 docks, and offer excellent freeway access, thanks to its location near a full interchange at Stuenkel Road and I-57. When complete, the warehouse will cater to bulk distribution users, providing the tenant with a highly efficient and accessible logistics hub.
The decision to purchase this fully entitled bulk land site was driven by several factors, including the availability of Tax Increment Financing (TIF) and property tax incentives, as well as the low real estate taxes and favorable labor in Will County, Illinois.
“This was a unique, cost-effective opportunity to develop a state-of-the-art industrial facility in a prime Midwest logistics location,” said Clarius Partners Managing Partner Kevin Matzke.
The development is expected to provide substantial economic benefits to the region, including job creation and increased commercial activity.
Colliers’ Jim Estus and David Bercu were the brokers on the transaction. Colliers is currently marketing the development.
