CHICAGO—Woodward, Inc., a company with a long and storied history in Illinois, recently purchased a 366,931-square-foot warehouse and production facility in Niles, one of the largest real estate transactions in the north suburbs in the past several years. The company bought the property from Duke Realty for nearly $24 million, according to Cook County records.
Woodward, which designs and manufactures products used by aerospace and energy companies to manage fuel and energy use, was founded in Rockford, IL in 1870. It plans to consolidate Chicago-area operations spread across five facilities in Niles and nearby Skokie into this building at 6300 W. Howard St. between Caldwell Ave. and Lehigh Ave.
The company, now based in Fort Collins, CO, wants the structure partially demolished and, by the end of this year, have a new, two-story, 100,000-square-foot office space addition. The finished product will have 334,715-square-feet. As part of the acquisition, Duke was also hired to complete the redevelopment of the property.
JLL's Eric Kunkel, Kurt Sarbaugh and Scott Ohlander represented Woodward in the transaction. Duke was represented by Tom Rodeno and Chris Volkert of Colliers International.
Woodward has made several significant real estate moves recently. For example, it broke ground in late 2012 on a $200 million aerospace manufacturing plant in Loves Park, a suburb of Rockford, which may eventually bring in as many as 1,700 jobs.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
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.
