Rosemont Crossings I will also have a single level parkinggarage. The project is geared toward larger users of at least50,000 sf or possibly a single tenant, Schnur says. "O'Hare is agreat market right now for consolidation," he says. The buildingwas designed by Wright Heerema Architects, based in Chicago.Construction is expected to begin in October and be completed inAugust 2008. The asking lease rate will be $18 per sf net, he says.CB Richard Ellis will be leasing the property.

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The building is being constructed on the northern part of a16-acre parcel Duke acquired last year from village of Rosemont andChicagoan-Fred Cooper, Schnur says. A 250,000-sf warehouse was onthe property that Duke demolished. Duke could construct another300,000 sf to 400,000 sf on the remaining 11 acres and willpossibly construct another speculative building or a build-to-suitfacility, he says. The parcel is within walking distance frompublic transportation and has frontage along I-294. Duke recentlycompleted a 71,000-sf, build-to-suit office building across thestreet from Rosemont Crossings I for the US Customs and BorderPatrol Division of the Government Services Administration, Schnursays.

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There had been no speculative office buildings constructed inthe area since 2001 because of a cooling of the office market, hesays. The market has become stronger in the last year, Schnur says."We think there is currently a shortage of large blocks of class Aspace, especially new space," he says.

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