WEST DUNDEE, IL-Opus North Corp. has broken ground on the Oakview Corporate Park, an industrial, multi-tenant development in West Dundee that will total 1.2 million sf and is scheduled for completion in 2010. The property is about a mile west of and Randall and Higgins roads.
"We're really excited about the Elgin market; there is a flux of tenants moving into the O'Hare area," Mike Yungerman, senior real estate director at Rosemont-based Opus North, tells GlobeSt.com.
The Oakview Corporate Park will feature build-to-suit sites from three to 30 acres, accommodating eight buildings on 75 of the 120-acre property. Forty-five acres have been set aside as wetlands and nature preserves.
"The village is excited to partner with Opus to build the first light industrial development within West Dundee's corporate village boundaries," Joseph Cavallaro, village manager for West Dundee, said in a statement. "The Opus development will help the village diversify its tax base."
Opus Architects & Engineers is designing Oakview Corporate Park, and Opus North Corp. is building the development. Groundbreaking for the park infrastructure has started, and ground will be broken for a 154,000-sf speculative building in September, Yungerman says.
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