New industrial building will be located on redeveloped 8-acre site near airport’s north cargo gate and major highway interchanges.
The Chicago office of Duke Realty (NYSE: DRE), the leading domestic-focused industrial property REIT (Real Estate Investment Trust) in the country, announces that it is constructing a new 154,512-square-foot warehouse on a recently acquired 8.15-acre site at 901 Chase Avenue in Elk Grove Village, Illinois. The building, which is being built on a speculative basis, will be located in the high-demand O’Hare submarket near the north cargo gate of the airport and within minutes of the I-90 and I-290/355 interchanges.
“We are excited to announce that we will soon be able to offer a large block of modern, first-generation industrial space near O’Hare International Airport, an area where availability is limited and sites for new development projects are scarce,” said Susan Bergdoll, Vice President of Leasing and Development for Duke Realty in Chicago. “Demand for quality space in this submarket is exceptionally strong as evidenced by a less than 3 percent vacancy rate at the end of Q1 2019. 901 Chase Avenue will be an excellent option for companies that want to be close to the airport plus have ready highway access to the entire metro area.”
Plans call for Duke Realty’s 901 Chase Avenue facility to be a 32′ clear building with 32 – 9′ x 10′ dock doors and two 12′ x 14′ drive-in doors, LED lighting, and 1,600-amp electrical service. Outside of the building will be parking for 111 automobiles and 25 trailer parking spaces.
Construction began in June with the demolition of an existing structure and site preparation. Delivery is slated for January 2020.
Parties interested in preleasing 901 Chase Avenue are invited to contact listing broker Brian Colson with Avison Young at 847.886.0228 or Casey Grant at 847.232.5487.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development approximately 14.9 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1301 West 22nd Street, Suite 800, Oak Brook, Illinois, 60523. The office phone number is 847.232.5400.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 156 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.