CHICAGO—Venture One Real Estate and its joint venture with USAA Real Estate Co. have broken ground on Crossroads 55, a 1,000,110 square-foot distribution facility located at 24101 S. Frontage Rd. in suburban Channahon.
The speculative project, which the partners plan to deliver in the second quarter of 2018, is yet another sign that developers still have a great deal of confidence in the Chicago region in general, and the submarket around Joliet and the I-80 expressway in particular.
“From a location standpoint, we think this is best-in-class,” Ryan Stoller, principal at Venture One, tells GlobeSt.com. The new facility will offer immediate access to two newly improved I-55 interchanges at Rte. 6 and Bluff Rd., and is just one exit south of the I-55/I-80 interchange. “We're also one exit away from the Arsenal Interchange, which gives access to UP and BNSF intermodals,” and any such facility will have both a regional and national reach.
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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.
