CHICAGO—The O'Hare market is one of the tightest in the Chicago metro region, and developers typically have few options to add new space. But Bridge Development Partners, LLC has just acquired a 10-acre parcel at the intersection of Rose St. and Soreng Ave. in Schiller Park, Ill., and plans to build a pair of state-of-the–art distribution buildings designed for smaller users.
The project is a joint venture with Akard Street Partners, an investment partnership managed by Hunt Realty Investments.
Hostess Brands sold the property, and was represented by Geoff Dowling and Daniel Tobin of CTK Chicago Partners. Bridge was represented by Tom Rodeno and Patrick Turner of Colliers International. Rodeno and Turner will be the listing agents of the facilities that Bridge will construct on site.
Located at 9555 and 9655 W. Soreng Ave., the property currently has about 200,000 square feet of functionally obsolete manufacturing space. Bridge will demolish those facilities and will develop Bridge Point Schiller Park, consisting of an 84,700-square-foot building on 4.20 acres and a 72,825-square-foot building on 5.71 acres.
“Bridge Point Schiller Park represents Bridge's fifth O'Hare area redevelopment since 2012,” says Steve Groetsema, principal at Bridge Development Partners. “The location and design of these buildings make them ideal for tenants seeking state-of-the-art product in the range of 15,000 to 85,000 square feet, a segment that's underserved in the O'Hare market.”
The buildings will feature 32' clear ceiling heights, ESFR sprinklers, 125' truck courts, one loading dock per 3,000 square feet, above-standard car parking ratios, and office-to-suit buildout options.
CHICAGO—The O'Hare market is one of the tightest in the Chicago metro region, and developers typically have few options to add new space. But Bridge Development Partners, LLC has just acquired a 10-acre parcel at the intersection of Rose St. and Soreng Ave. in Schiller Park, Ill., and plans to build a pair of state-of-the–art distribution buildings designed for smaller users.
The project is a joint venture with Akard Street Partners, an investment partnership managed by Hunt Realty Investments.
Hostess Brands sold the property, and was represented by Geoff Dowling and Daniel Tobin of CTK Chicago Partners. Bridge was represented by Tom Rodeno and Patrick Turner of Colliers International. Rodeno and Turner will be the listing agents of the facilities that Bridge will construct on site.
Located at 9555 and 9655 W. Soreng Ave., the property currently has about 200,000 square feet of functionally obsolete manufacturing space. Bridge will demolish those facilities and will develop Bridge Point Schiller Park, consisting of an 84,700-square-foot building on 4.20 acres and a 72,825-square-foot building on 5.71 acres.
“Bridge Point Schiller Park represents Bridge's fifth O'Hare area redevelopment since 2012,” says Steve Groetsema, principal at Bridge Development Partners. “The location and design of these buildings make them ideal for tenants seeking state-of-the-art product in the range of 15,000 to 85,000 square feet, a segment that's underserved in the O'Hare market.”
The buildings will feature 32' clear ceiling heights, ESFR sprinklers, 125' truck courts, one loading dock per 3,000 square feet, above-standard car parking ratios, and office-to-suit buildout options.
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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.
