Brennan Investment Group’s plan to develop a 1.2-million-square-foot technology park in Elk Grove Village is moving forward with the recent acquisition of a massive, unimproved plot of land in the O’Hare submarket. CBRE represented the buyer and seller in the transaction.
“We have been gratified to see the incredible demand from high-tech industrial and clean manufacturing firms, as well as data center providers,” said Michael Brennan, chairman and managing principal of Brennan Investment Group. “With this transaction, we are ready to commence one of the most significant industrial developments in the country.”
The project is one of the largest of its kind in the country and will accommodate digital manufacturing, robotics and data center companies. Nine planned industrial facilities will make up Elk Grove Technology Park, first announced last year. The proposed buildings range in size from 73,829 to 243,691 square feet, divisible. All buildings will feature pre-cast construction, high-end glass facades, state-of-the-art systems and fixtures, 32-foot ceiling clearance and ample loading & automotive parking.
The technology-forward business park will also lure in tenants with modern aesthetics, including cultured landscaping, sculptures, water features, bike paths and pedestrian walkways. The first speculative facilities will have frontage on Higgins Road and face the park’s main water features and walking path.
The 85.76 acres of land at 955 E. Higgins Road are roughly bounded by Higgins Road on the North, Lively Road to the East, Oakton Boulevard on the South and King Street on the West. CBRE’s Mike Sedjo, John Hamilton, Jack Brennan and Tony Gange represented the seller, Tim Busse, and the buyer, Brennan Investment Group and Greenfield Partners.
Busse Farm is the O’Hare industrial market’s largest unimproved plot of land and has been the target of development for decades. CBRE also represented the partnership in the acquisition of 17 additional acres adjacent to the larger parcel, which closed on the same day.