Seefried Industrial Properties has acquired an 8.82-acre land site—an assemblage of six residential parcels—in Elk Grove Village, Illinois for an undisclosed price. Colliers International Chicago’s Jonathan Kohn and Ron Behm negotiated the land assemblage on behalf of Seefried, which plans to immediately break ground on a two-building, 163,000-square-foot speculative development.
“After successfully developing, leasing and selling a 215,000-square-foot spec facility prior to its completion in Pleasant Prairie, Wisconsin, Seefried is pleased to be partnering with the same team on our newest development,” said David Riefe, a senior vice president at Seefried Properties. “While real estate markets have changed dramatically over the past three months, this project will cater to emerging trends such as last mile distribution.”
Located in the highly sought-after Centex Industrial Park, the new warehouse/distribution center will feature 32-foot height clear height ceilings, 195-foot concrete truck courts, an ESFR sprinkler system, 24 docks, eight trailers and 175 parking spaces. Delivery is scheduled for first quarter 2021.
“This was a complicated land assemblage that took nearly two years to complete and included a change in zoning,” Kohn said. “Seefried cooperated with six individual sellers and worked closely with Elk Grove Village to formulate an excellent development for the site. We are very pleased with the outcome and look forward to successfully leasing both industrial buildings.”
The site offers close proximity to I-290 and I-355 and is minutes from O’Hare International Airport. Combined with the I-290 North Submarket to south of the airport, the greater O’Hare area totals more than 215 million square feet and is one of the largest industrial submarkets in the country.
Harris Architects has been engaged as the project architect. Jacob & Hefner is the civil engineer and Premier Design + Build is the general contractor. Kohn and Behm have been retained to lease the property.