DP Completes Third Building in $200M Park

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.”