Search
 

Target Picks Park 88 for $100M Distribution Center

DeKALB, IL-The 119-acre site at 1111 Macom Dr. scores a perfect 100 on the retailer's site analysis scoring system. A key factor is $10 million in incentives to build the 1.5-million-sf distribution center, Target's first in Illinois.

By Mark Ruda | Updated on November 14, 2004

DeKALB, IL-Target Corp. expects to move into a 1.5-million-sf, $100-million distribution center next fall in the 460-acre Park 88 industrial park along the burgeoning Interstate 39 logistics corridor. The selection of a 119-acre site at 1111 Macom Dr. in the industrial park–Riverwoods-based Venture One Real Estate, Clayco Construction Co., and DeKalb Associates are its developers–was no contest, according to the Minneapolis-based retailer.

“We have a scoring system used to analyze sites, and the Park 88 site was the first 100 score we have ever seen,” says Target senior vice president of distribution services Mitchell L. Stover. A key factor was more than $10-million financial incentives provided by state and local governments, he suggests.

Target struck deals with eight taxing bodies to abate or rebate property taxes totaling approximately $3.8 million over the next two to 10 years, says DeKalb County Economic Development Corp. executive director Roger G. Hopkins. Meanwhile, the City of DeKalb, home to Northern Illinois University, will make nearly $1.8 million in infrastructure improvements, with the state granting another $1.9 million for streets and sewers. The developers also are kicking in another $2.7 million for infrastructure improvements.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.