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Opus North Corp. Begins $30M Industrial Center

CICERO, IL-The company is developing a 550,000-sf building on spec, on this 28-acre site that used to hold a General Electric facility.

By Cari Brokamp | Updated on August 18, 2008

CICERO, IL – Construction has begun on a 550,000-sf industrial center at 16th Street and 54th Avenue in Cicero. The 28-acre property is being developed by Opus North Corp., based in Rosemont, IL. Dubbed the Cicero Business Center, the development will include two buildings and is expected to cost around $30 million, according to Mike Yungerman, senior real estate director at Opus North.

The center will offer warehouse and distribution facilities on a property once occupied by General Electric, in an area that has recently been short on industrial development, according to Yungerman. “It’s an old industrial area and it needs new industry,” Yungerman said. The buildings are being constructed on speculation, but Yungerman said tenants will not be hard to come by.

“It’s a great infill location,” Yungerman said. “The vacancy rate is pretty low, but you haven’t seen a lot of growth because there have been limited opportunities for new development. We think this brand new facility in a location like this is going to be very successful.”

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