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WEST CHICAGO, IL-TCB Development, based in Tinley Park, has completed a 150,000-sf speculative industrial building at 535 Shingle Oak Dr. in the Crossroads of DuPage Business Park. The park is located on more than 23 acres near Route 59 at the intersection of Atlantic Drive and North Avenue, here. The park is expected to have a total of 400,000 sf when completed and an estimated cost of $20 million, says Randy Tieman, EVP with TCB. The cost for the speculative building was approximately $7.5 million, Tieman says.

The building is on a 10-acre site. The facility has 30 feet clear heights, is divisible to 25,000 sf and has 13 docs which are expandable to 18 docks, he says. There have not been any leases signed yet for the building. The asking lease rate is $5.25 per sf net, Tieman tells GlobeSt.com. Cushman & Wakefield is the lease agent for the business park. KLLM Architects Inc. was the architect for the project.

A 36,784-sf industrial condominium building, at 1601 Atlantic Dr., has already been constructed in the park. Nine of the 11 units have been sold, Tieman tells GlobeSt.com. Occupants include Caroline Marketing, Alliance Cleaning and KRK Mechanical. The sales price for the condominium units is $110 per sf, he says.

The business park is near Interstates 290, 355 and 88. “We think it is a good location. The Carol Stream and Glendale Heights markets are pretty full,” Tieman says. “There is not much, if any, available land so the trend is to just move a little bit farther west.” TCB also plans four additional buildings that will be speculative or built-to-suit, Tieman says. The developer has given some quotes for build-to-suit projects, but does not have any contacts signed at this point. TCB Design Build is the contractor for the business park.

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