{"id":1004206565,"date":"2018-02-09T07:17:38","date_gmt":"2018-02-09T15:17:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004206565"},"modified":"2022-12-09T01:17:17","modified_gmt":"2022-12-09T09:17:17","slug":"hilco-scoops-up-former-chicago-power-plant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hilco-scoops-up-former-chicago-power-plant\/","title":{"rendered":"Hilco Scoops Up Former Chicago Power Plant"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004206566\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004206566\" data-attachment-id=\"1004206566\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hilco-scoops-up-former-chicago-power-plant\/roberto-perez-crawford-station-1-web-res\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Hilco Redevelopment Partners&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Roberto Perez, Managing Partner, President, Hilco Real Estate Redevelopment Partners at the Crawford Power Generating Station site that Hilco plans to remediate and transform into an economic engine in the Little Village neighborhood\/Chicago. The 70-acre site, shuttered since 2012, holds great promise as a \\u201clast-mile\\u201d distribution and logistics facility.  PHOTO CREDIT:  Jon Shaft (PRNewsfoto\/Hilco Redevelopment Partners)&quot;,&quot;created_timestamp&quot;:&quot;1517875200&quot;,&quot;copyright&quot;:&quot;Copyright \\u00a9 2017 Jon Shaft. Do not duplicate. This image must be used within the context of the news release it accompanied. Re&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Roberto-Perez---Crawford-Station-1-Web-Res&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Roberto-Perez&#8212;Crawford-Station-1-Web-Res\" data-image-description=\"&lt;p&gt;Hilco Redevelopment Partners President &#038; Managing Partner Roberto Perez&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Hilco Redevelopment Partners President &#038; Managing Partner Roberto Perez&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg?w=800\" class=\"wp-image-1004206566 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg\" alt=\"Hilco Redevelopment Partners President &amp; Managing Partner Roberto Perez\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004206566\" class=\"wp-caption-text\">Hilco Redevelopment Partners President &amp; Managing Partner Roberto Perez<\/p><\/div>\n<p>Hilco Redevelopment Partners, a unit of Hilco Global, has purchased the former Crawford Power Generating Station site in Chicago from NRG Energy. The company plans to demolish the old coal-fired power\u00a0plant and bring a new industrial facility to\u00a0the Little Village neighborhood. The redevelopment work is expected to begin as soon as the 70-acre site will be in accordance with all safety regulatory standards and to last between 12 and 24 months.<\/p>\n<p>According to <em>Chicago Tribune<\/em>, the acquisition is part of a\u00a0$100 million-plus project to demolish the facility and replace it with\u00a0roughly 1 million square feet of warehouse space.\u00a0<\/p>\n<p>\u201c<em>We see the Crawford site as a transformational opportunity to take 70-acres of urban infill industrial land from an obsolete facility and eyesore to a modern and robust economic engine in the neighborhood. This location and current zoning classification offers great potential to serve as a last-mile distribution and logistics facility given its proximity to such a significant population center,<\/em>\u201d said Roberto Perez, president &amp; managing partner with Hilco Redevelopment Partners, in a prepared statement.<\/p>\n<h2>90 years of activity<\/h2>\n<p>Located at 3501 S. Pulaski St., the power station was functional between 1924 and 2012.\u00a0The site is close to Interstate 55 and Chicago Midway International Airport and less than 10 miles from downtown Chicago. Upon completion, the new industrial property is expected to be an economic driver for the area, creating jobs and attracting businesses.<\/p>\n<p>According to the Crawford Station website, Midwest Generations, which also owned and operated the nearby Fisk Generating Station, bought the facility in 1999. Both plants used to generate power for approximately one million homes. NRG Energy acquired the assets two years after closing due to environmental issues.<\/p>\n<p>For the new owner,\u00a0the property represents one of several\u00a0industrial assets\u00a0the company acquired across the U.S. within the past years. Hilco&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/baltimores-tradepoint-atlantic-lands-1st-retail-tenant\/\">industrial property portfolio<\/a> also includes Tradepoint Atlantic in Baltimore, which has recently landed its first retail tenant, as well as the former Boston Power Generating Station and The Gauge in Boston.<\/p>\n<p><em>Image courtesy of Hilco Redevelopment Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company plans to demolish the building and construct an industrial facility in the Little Village neighborhood. Remediation work of the 70-acre site might take up to 24 months.<\/p>\n","protected":false},"author":1064,"featured_media":1004206566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21782,21748,13,21742],"tags":[39082,38632],"class_list":["post-1004206565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-development","category-industrial","category-midwest","category-latest","tag-hilco-global","tag-nrg-energy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hilco Scoops Up Former Chicago Power Plant - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hilco-scoops-up-former-chicago-power-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hilco Scoops Up Former Chicago Power Plant\" \/>\n<meta property=\"og:description\" content=\"The company plans to demolish the building and construct an industrial facility in the Little Village neighborhood. Remediation work of the 70-acre site might take up to 24 months.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hilco-scoops-up-former-chicago-power-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-09T15:17:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:17:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/\"},\"author\":{\"name\":\"Gabriel Circiog\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fea14f28ef4cea0e4f36b0516e632ebb\"},\"headline\":\"Hilco Scoops Up Former Chicago Power Plant\",\"datePublished\":\"2018-02-09T15:17:38+00:00\",\"dateModified\":\"2022-12-09T09:17:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/\"},\"wordCount\":361,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/02\\\/Hilco-President-Managing-Partner-Roberto-Perez-in-front-of-Crawford-Power-Generating-Station-Chicago.jpg\",\"keywords\":[\"Hilco Global\",\"NRG Energy\"],\"articleSection\":[\"Chicago\",\"Deals\",\"Development\",\"Industrial\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hilco-scoops-up-former-chicago-power-plant\\\/\",\"name\":\"Hilco Scoops Up Former Chicago Power Plant - 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