Seefried Properties Kicks Off Chicago-Area Spec Project
The two-building industrial development is coming online next year.
Seefried Properties has broken ground on a 465,360-square-foot speculative industrial project in Elgin, Ill., in the Chicago area. The architect of record is Harris Architects, with FCL Builders acting as general contractor and Spaceco providing civil engineering services.
Plans call for two separate buildings spanning 320,946 and 144,414 square feet, respectively. Both are slated to feature clear heights between 32 and 36 feet, 185-foot deep truck courts, 236 trailer spaces, as well as ESFR sprinkler systems. The facilities will be able to accommodate tenants needing between 25,000 and 465,000 square feet. Completion of the Class A campus is expected in the third quarter of next year.
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Located at the intersection of Madeline Road and Alft Lane, the development site is near Interstate 90 and roughly 42 miles from Chicago, as well as 33 miles north of Naperville, Ill.
Cushman & Wakefield Executive Vice Chair Jason West along with Executive Director Doug Pilcher are marketing the project for sale or lease.
As of May, there were 618.9 million square feet of industrial space under construction nationally representing 3.4 percent of total stock, a recent CommercialEdge report shows. In the Midwest, Chicago’s supply pipeline is leading in terms of square footage with 23.3 million square feet under development, according to the same source. Recently, Logistics Property Co. broke ground on a 665,000-square-foot project in the metro area.