CHICAGO—The I-55 corridor is already dense with logistics and distribution buildings and little vacant land remains for new development. But developers have begun looking to adjacent areas for new opportunities. ML Realty Partners LLC, for example, has just begun the construction of two buildings at the Heritage Crossing Corporate Center, a 228-acre business park located in suburban Lockport, south of the I-55 corridor along I-355, according to Pete Harmon, the company's executive vice president.
The development, situated directly at the I-355 and 143rd St. interchange, will eventually consist of 12 buildings varying in sizes from 60,000-square-feet to 500,000-square-feet.
Available for occupancy by the end of 2014, the two facilities will accommodate single or multi-tenant use. The first building will be a 500,000-square-foot distribution facility with
I-355 frontage and up to 152 secured trailer stalls. Concurrently breaking ground, a second building will offer 121,800-available-square-feet divisible down to 18,000-square-feet.
“This is an exciting opportunity to continue to develop the first true business park directly at an interchange along the new I-355 extension,” Harmon said in a statement. “Between these new facilities and the success of the park's first building, Heritage Crossing Corporate Center continues to provide a class A environment dedicated to optimizing logistics in 2014.”
Harmon was not available for further comment at press time.
Daniel Leahy, Mark Moran, and John Whitehead of NAI Hiffman lead marketing efforts for the park.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
