Pullman Huron Investments, Inc., an entity formed by MIFAB, Inc., will build a 60,000-sf warehouse at 1321 W. 119th St. with 35-foot clear ceiling heights as well as 5,600 sf of office space. In later phases, the building can be expanded to 80,000 sf, and ultimately, 100,000 sf, says company president and owner Michael Whiteside.

"This is a project I'm committed to for our future expansion," says Whiteside, who already considered other sites in the Midwest for his company, which does 95% of its business in the US. "Unfortunately, it doesn't make sense financially unless we get it at the negotiated price…This is the only way I can make it happen."

The $1 sale was endorsed Tuesday by the community development commission, which in May recommended the sale of the same site for 50% of its appraised value. In addition to virtually giving the land to MIFAB, Inc., the city also will support the company's attempts to land a Class 6(b) property tax break. However, the lack of comparable properties and the risk of being the first new construction in the area made the project's lender skittish, suggests department of planning and development project manager Edward Lewis.