Ryan Companies US Inc. will develop and build a 400,000-square-foot speculative industrial project in Chicago’s historic Pullman community. The new project is part of the master-planned, 50+ acre Pullman Crossings business park, planned with Chicago Neighborhood Initiatives (CNI).
“Ryan Companies’ plan demonstrates the recipe for Pullman’s rebirth—which has included attracting more than a dozen new businesses, building the region’s largest indoor athletic and education center, developing scores of new homes, investing millions in education and infrastructure and creating 1,500 new jobs—is not only working, but the revitalization is continuing to gain momentum,” said 9th Ward Alderman Anthony Beale.
Pullman Crossings is located at I-94 and 103rd Street, on the largest undeveloped land site within 20 minutes of the Chicago Loop and is accessible to rail and toll-free interstates. Building specifications include 36-foot clear height, 56-foot bays, up to 120 dock positions with dedicated trailer parking and proposed Class 6b incentives. The location of the project has excellent access to the recently expanded Dan Ryan (I-94) and has proven success with businesses including Method Home Products factory, Whole Foods Midwest Distribution Center, two Gotham Greens greenhouses, Kellogg Co. and Dutch Farms dairy.
“There is increased demand for urban industrial space with toll-free access, an active workforce and flexible configurations,” said Curt Pascoe, director of development, Ryan Companies. “The new building will provide all the standards of a suburban business park in an urban location.”
Pullman Crossings is also located in an Opportunity Zone, one of more than 300 designated areas in Illinois created in 2017 to drive additional investment to the community. The Pullman neighborhood has seen numerous projects pop up over the last few years, including a Blue Cross and Blue Shield neighborhood center, the Pullman Community Center athletic facility and a CTA rail car manufacturing facility.
Construction will begin on the new speculative building in spring 2019 and will be marketed by Todd Heine and Brendan Kelly, both principals with the brokerage firm Avison Young. The two brokers have significant levels of experience marketing to and working with food processing and distribution firms and other warehouse and distribution entities. Avison Young represented Whole Foods in the transaction that brought its distribution center to Pullman.
