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Vacancy Rates Sinking to Historic Lows

But those rates should rise this year as developers deliver new spec projects.

By Brian J. Rogal | brianjrogal | Updated on August 22, 2017

chi-BrewsterCreekIIrendering The vacancy rate in much of DuPage County should finally start to rise this year as buildings like Ridge Brewster Creek II open.

CHICAGO—The Chicago industrial market is firing on all cylinders, and has been for some time. Therefore, it’s no surprise that individual submarkets are recording historic lows in vacancy and attracting new developments. Ridge, the industrial development arm of Transwestern Development Co., recently broke ground on Ridge Brewster Creek II, a 186,000-square-foot development in Brewster Creek Business Park, a 468-acre, master-planned industrial park in Bartlett, IL.

The company has already had some recent success with a similar project, called Ridge Brewster Creek I, a 271,000-square-foot building 50% leased to Winhere Brake Parts, which took the space before completion. Ridge plans to deliver the second building in December 2017.

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