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TCB Plans 575,000-SF Spec Industrial Building

UNIVERSITY PARK, IL-The $25-million project is expected to be finished by the fourth quarter and a 150,000-sf spec building was recently completed.

By Gina Kenny | Updated on May 22, 2007

(Read more on the industrial market.)

UNIVERSITY PARK, IL-TCB Development Co., based in Chicago, recently started construction on a 575,024-sf speculative distribution center at 5401 W. University Parkway. The estimated value of the project is $25 million, says Randy Tieman, executive vice president for TCB.

The building will be constructed on a 35-acre site near two different interchanges for I-57. There will be 66 exterior truck docks, 100 trailer positions and 175 automobile parking spaces. The building is expected to be available for occupancy in the fourth quarter. The asking rate for the building will be $3 per sf net, Tieman says. TCB Design Build is the design build contractor and Harris Architects is the building architect. Randy Koch, Jack Cozzie, Jeff Rosenbloom and David Drew, all with Grubb & Ellis, are the leasing agents for the building. LaSalle Bank is the lender for the project.

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