Construction is expected to begin this week, with completion expected early next year.
Six other finalists received serious consideration, the Colliers Bennett & Kahnweiler report. It didn't hurt that the state, Will County and village kicked in $4 million in incentives.
"Transportation costs, labor availability, economic incentives, and interstate access were several of the key factors that went into the final decision," says Kahnweiler in a statement. Adds Canale, "With so many great alternatives, Michaels really had to make some hard decisions on which site to pursue."
Schiller Park-based Northern Builders, developer of the business park, will construct the distribution center that could be expanded to 1 million sf. The company was represented by a CB Richard Ellis team that included David Prioletti, Larry Johnson, and Michael Svoboda.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.