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CICERO, IL – Construction has begun on a 550,000-sf industrial center at 16th Street and 54th Avenue in Cicero. The 28-acre property is being developed by Opus North Corp., based in Rosemont, IL. Dubbed the Cicero Business Center, the development will include two buildings and is expected to cost around $30 million, according to Mike Yungerman, senior real estate director at Opus North.

The center will offer warehouse and distribution facilities on a property once occupied by General Electric, in an area that has recently been short on industrial development, according to Yungerman. “It’s an old industrial area and it needs new industry,” Yungerman said. The buildings are being constructed on speculation, but Yungerman said tenants will not be hard to come by.

“It’s a great infill location,” Yungerman said. “The vacancy rate is pretty low, but you haven’t seen a lot of growth because there have been limited opportunities for new development. We think this brand new facility in a location like this is going to be very successful.”

Yungerman said the location’s proximity to Interstate 290 and accessibility to Chicago, just miles east of the property, will draw both tenants and employees. The larger of the two buildings will offer more than 290,000 sf, and the smaller will have around 260,000 sf. Both will have 32-foot clear ceilings, 30 docks, two drive-in doors, trailer spaces, office space and parking.

Construction is expected to be complete early next year on the development, which was designed by Opus Architects and Engineers. Vernon Schultz and Thomas Condon, both of Colliers Bennett & Kahnweiler, are the leasing agents for the development. The property was acquired from General Electric after the seller demolished a building previously on the property. Walt Zegers and Cathy Howland, also of Colliers Bennett & Kahnweiler, represented the seller in the deal. Yungerman would not disclose the property’s purchase price.

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