CHICAGO—As reported in last week, Ryan Companies US Inc. has completed two speculative industrial buildings, both in the suburban Elgin submarket, in the last 60 days. And John Dunneback, the company’s director of development, tells that this corner of the Chicago metro area is well-positioned to see a significant amount of new construction. Ryan Companies, for example, is set to launch more projects in the immediate area once spring comes.

“Historically, this has been a pretty solid market,” he says. The growth typically does not come from big outsiders coming in to set up shop, but from the expansion of a group of smaller firms with deep attachments to the local area. Unlike the denser I-55 or I-290 submarkets, from which trucks can reach Chicago in as little as 20 minutes, Elgin and its environs serves “a unique set of users that wish to focus on the northwest corner of the suburbs. I wouldn’t say it’s isolated, but it is more of a destination submarket.”

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