CHICAGO–Developers looking to satisfy the escalating demand for industrial space in our region are filling in the last spaces in some submarkets. Ridgeline Property Group, for example, has decided to build a 438,150 square foot, class A distribution center on a speculative basis in suburban Crest Hill less than two miles from I-55 and about nine miles from I-80. RPG and its capital partner Cabot Properties acquired the Crest Hill Industrial Park site in September.
Pre-cast concrete and steel work will begin in January and company officials expect to finish next August. David Bercu and Jim Estus, both principals at Colliers International, will market the property for lease.
"Demand in the market remains strong but there is a limited supply of space in the submarket," says Pete Harmon, partner at RPG. "Strategically located on one of the last remaining sites along I-55, this project will provide a solution for today's users in a proven submarket, appealing to demand from both the I-55 and I-80 submarkets."
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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.
