{"id":1004739952,"date":"2024-12-06T05:22:14","date_gmt":"2024-12-06T13:22:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004739952"},"modified":"2024-12-06T05:48:50","modified_gmt":"2024-12-06T13:48:50","slug":"lilly-earmarks-3b-for-metro-chicago-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lilly-earmarks-3b-for-metro-chicago-facility\/","title":{"rendered":"Lilly Earmarks $3B for Metro Chicago Facility"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"675\" data-attachment-id=\"1004739954\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lilly-earmarks-3b-for-metro-chicago-facility\/lkc_expansion_rendering_1_highres-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg\" data-orig-size=\"900,675\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&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;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"LKC_Expansion_Rendering_1_Highres\" data-image-description=\"&lt;p&gt;Rendering of Eli Lilly and Co.&#8217;s future manufacturing facility in Pleasant Prairie, Wis.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Construction on Lilly&#8217;s new manufacturing facility in Pleasant Prairie is slated to start next year. Image courtesy of Eli Lilly and Co.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg?w=900\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg\" alt=\"Rendering of Eli Lilly and Co.'s future manufacturing facility in Pleasant Prairie, Wis.\" class=\"wp-image-1004739954\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/LKC_Expansion_Rendering_1_Highres-1.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Construction on Lilly&#8217;s new manufacturing facility in Pleasant Prairie, Wis., is slated to start next year. <em>Image courtesy of Eli Lilly and Co.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>With a $3 billion investment, Eli Lilly and Co. will expand its manufacturing operations at a facility purchased earlier this year in Pleasant Prairie, Wis. Construction on a new manufacturing building is expected to begin next year.<\/p>\n\n\n\n<p>This is the company&#8217;s single largest U.S. manufacturing investment outside of its home state of Indiana, according to prepared remarks by Edgardo Hernandez, executive vice president &amp; president of Lilly Manufacturing Operations. <a href=\"https:\/\/www.commercialsearch.com\/news\/eli-lilly-boosts-manufacturing-site-with-5-3b-investment\/\">Lilly\u2019s latest Indiana investment<\/a> clocked in at $5.3 billion in May.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-pleasant-prairie-facility\">The Pleasant Prairie facility<\/h2>\n\n\n\n<p>Lilly acquired the Pleasant Prairie plant in April from Nexus Pharmaceuticals. However, the facility is yet to be fully operational and Lilly expects production to start by the end of 2025.<\/p>\n\n\n\n<p>The property is inside the 440-acre Prairie Highlands Corporate Park, which is located along a stretch of Interstate 94 running about 40 miles south of Milwaukee. Notable tenants at the park include Advocate Aurora Health Care and HARIBO of America.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/manufacturings-comeback-gains-ground\/\">Manufacturing\u2019s Comeback Gains Ground<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Upon completion, the expanded facility will use advanced automation\u2014incorporating guided vehicles and robotics\u2014to enhance the company\u2019s medicine production. The plant will produce injectable medicines and assemble and package products across various therapeutic areas and allow Lilly to grow its existing and future medicine pipeline in the Midwest.<\/p>\n\n\n\n<p>As of December, the company\u2019s footprint at the Pleasant Prairie site totaled 696,960 square feet, according to <em>Kenosha News<\/em>. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-lilly-s-manufacturing-expansion\">Lilly&#8217;s manufacturing expansion<\/h2>\n\n\n\n<p>The firm has gradually expanded in Kenosha County since the beginning of the year. In November, Lilly paid $40.8 million for a 323,930-square-foot warehouse in the nearby Bristol, Wis., and another $10.2 million for 30.9 acres surrounding that property, according to <em>BizTimes<\/em>. This brought the company&#8217;s total planned investment across Wisconsin to $4 billion.<\/p>\n\n\n\n<p>At a global scale, Lilly has deployed upward of $23 billion for the construction and expansion, as well as the acquisition, of manufacturing sites since 2020. The company\u2019s medication aims to combat diabetes, obesity and cancer, among others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chicago-industrial-investment-soars\">Chicago industrial investment soars<\/h2>\n\n\n\n<p>Greater Chicago\u2019s industrial investment volume totaled more than $2.6 billion during the first 10 months of the year, according to a CommercialEdge report. For the first three quarters, the metro\u2019s industrial sales <a href=\"https:\/\/www.commercialedge.com\/blog\/national-industrial-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">were $678.2 million higher<\/a> than the figure registered during the same period of last year.<\/p>\n\n\n\n<p>However, Chicagoland was not one of the top 3 Midwest markets for industrial pipeline size, the same source shows. The metro had only about 6.9 million square feet under construction as of October, behind Kansas City (11.7 million square feet), Columbus, Ohio (8.1 million square feet) and Detroit (7.7 million square feet).<\/p>\n\n\n\n<p>One of the largest projects underway in the market is <a href=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-breaks-ground-on-8-msf-chicago-campus\/\">Plainfield Business Center<\/a>, developed in phases by Trammell Crow Co. At full build-out, the industrial campus will comprise 8 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction on the plant expansion will kick off next year.<\/p>\n","protected":false},"author":3471,"featured_media":1004739954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21782,21808,21748,21783,13,21742],"tags":[52412],"class_list":["post-1004739952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-development","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-eli-lilly"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lilly Earmarks $3B for Metro Chicago Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Eli Lilly will invest $3 billion to expand its manufacturing plant in Pleasant Prairie, Wis. 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