X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAUK VILLAGE, IL-DP Partners, based in Reno, NV, has completed construction on a 496,260-sf speculative building at LogistiCenter at Sauk Village. The $25 million distribution building, fronting Jason Rasmussen Drive, is the third building constructed in the 325-acre business park. The estimated cost for the business park, when completed, is about $200 million, says TJ O’Brien, development manager for DP’s Midwest region.

The building has 32-foot clear height ceilings, up to 120 truck docks, can be expanded up to 1.2 million sf and has the option of rail-service at the rear of the building. George Maragos and Brad Weiner, both with CB Richard Ellis’ Chicago office, are the leasing agents for LogistiCenter at Sauk Village. Harris Architects Inc., based in Palatine, IL, is the project architect. Jacob and Hefner Associates PC, based in Oakbrook Terrace, IL, is the civil engineer.

The building is the third speculative building DP has constructed at the business park. A 258,950-sf building, at 21701 Mark Collins Dr., and a 776,420-sf building, where Warehouse Specialists Inc. leases 516,072 sf, were sold in July as part of a portfolio sale to ProLogis. Lewis Goetz & Co. is also a tenant in the park, O’Brien says. In 2005, DP began developing the LogistiCenter at Sauk Village, which is bordered by Illinois State Highway 394 on the east, Cottage Grove Avenue on the west, Sauk Trail on the south and the Elgin, Joliet and Eastern Railway on the north. The land is owned by the village of Sauk Village and the park is a joint venture between the village and DP. The park has about 1.5 million sf constructed and is expected to have about five million sf when completed. “The market has slowed down a little bit,” O’Brien says. But, “there are users actively looking for space in the market still.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.