Colliers International has brokered the sale of an 11.75-acre land site located at 3700 S. Morgan St. in Chicago’s Stockyards Industrial Park. Colliers’ Chicago’s Matthew Stauber, Evan Djikas, Tom Rodeno and Patrick Turner represented the seller, Joslyn Manufacturing Company, a subsidiary of Danaher Corporation, in the transaction. IDI Logistics purchased the property for an undisclosed price.
IDI plans to build a 178,000-square-foot industrial facility with 36’ ceiling height and parking for 212 cars. Delivery is expected second quarter 2022.
The rarely available infill site provides easy access to I-55, I-290 and I-90/94 and is within four miles of the BNSF Intermodal. Its premier location near Chicago’s CBD makes an ideal choice for any number of industrial applications. Colliers expects to draw interest from manufacturing companies and other industrial tenants looking to tap into the city’s vast labor supply.
“The development of this long dormant property will have a significant impact on the community especially as we emerge from the COVID-19 pandemic,” said Turner.
IDI has retained Colliers to market the new development.