Chicago

The region has strengthened economically, but remains far more affordable to investors.

An increasing number of people want to live in urban neighborhoods, and former industrial sites can supply the necessary land.

But the luxury market is struggling across much of the state.

The new platform— Logistics Property Company, LLC— has partnered with Macquarie Capital Real Estate Investments on the formation of the platform. LPC seeks to grow its business to more than $5 billion of properties under management over the next five years.

Today's industrial sector isn't all about distribution.

Developers completed tens of millions of square feet of new product in just three years, including 25 million in the I-55 Corridor near Joliet alone.

The sale of the property between a private investor and owner operator and the new owner, a Chicago-based private equity firm, was reported by brokerage firm Marcus & Millichap.

After several years of redeveloping older, underutilized buildings, new construction has begun.