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MOKENA, IL-TCB Development Corp. has bought 148 acres in the Corporate Corridors of Mokena business park, paying a reported $7.8 million to William Wrigley Jr. Co. The land is at 191st Street and 88th Avenue, along Interstate 80, and was a candidate for the gum company's global innovation center, which ultimately was built in Chicago on Goose Island.

Based in nearby Tinley Park, TCB Development already has tenants including Darvin Furniture on 80 acres south of 191st Street, as well as building Mokena Crossings, which offers office and industrial space, west of LaGrange Road. Corporate Corridors is one of eight business parks totaling five million sf developed by the company, which has concentrated on Mokena, Orland Park and Tinley Park because of Will County's labor pool and relatively lower property taxes.

Meanwhile, William Wrigley Jr. Co. is closing its 94-year-old chewing gum factory in the 3500 block of South Western Avenue in Chicago's McKinley Park neighborhood in favor of a newer plant in far West suburban Yorkville, which also was in the running to land the company's 300,000-sf research and production center along with a site in West Chicago. The $84.3-million global innovation center went to Goose Island after Chicago officials agreed to provide up to $15 million in tax increment financing and back a Cook County Class 6(b) property tax break estimated to be worth another $1 million.

NAI Hiffman executive vice presidents Daniel P. Leahy and C.L. Botthof represented the gum company.

Instant Insights /

Wrigley Sheds 148 Acres in Corporate Corridors

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