The Opus Group (Opus) has started construction on Alsip Park 294, a two-building, speculative industrial development in the Chicago suburb of Alsip. Located on 22 acres near the northwest corner of I-294 and 127th Street, Alsip Park 294 will bring 360,000 total square feet of space to the market for warehouse, logistics and manufacturing users. The development is a joint venture between Opus and Principal Asset ManagementSM.
Alsip Park 294 has immediate access to a full I-294 interchange with visibility from the interstate. It is located nine miles from the UPS package sorting hub in Hodgkins, nine miles from Chicago Midway Airport and 33 miles from O’Hare International Airport. It is a few blocks from the Cicero Avenue commercial corridor, where hotels, restaurants and retail options are abundant.
Building A is 190,935 square feet with 32-foot clear height, 18 dock doors (expandable to 34), two drive-in doors and 169 auto parking stalls. Building B is 169,064 square feet with 32-foot clear height, 18 dock doors (expandable to 33) and 138 auto parking stalls.
Both buildings have been designed to meet Green Globe certification. Examples of sustainable features include clerestory windows, storefront glazing, LED lighting and motion-activated bay lighting, and drought-tolerant landscaping. All stone, precast walls, concrete and asphalt will be locally sourced.
The buildings are slated for completion in August 2024.
Opus is the developer, design-builder, and architect and structural engineer of record. Brian Kling and Jake Spinell of Colliers are marketing the buildings for lease.
Over the past 15 years, Principal Real Estate, the dedicated real estate team at Principal Asset Management, has been involved in the development of almost $14.5 billion of commercial real estate projects, including over $5.5 billion of industrial assets.
