CHICAGO—As reported in, Bridge Development Partners, LLC, and its partner Akard Street Partners, LP recently leased up 2475 Touhy Ave. and 1701 Nicholas Blvd., two new industrial properties in suburban Elk Grove Village. The properties were two of the first five speculative buildings launched by developers in the Chicago industrial market after the downturn. And Steve Groetsema, director of leasing and development at Bridge, tells that the plunging vacancy rate in the submarket is no surprise.

“The ground zero of the region’s industrial market is the west side of the airport,” he says, in order to have access to its cargo facilities and the workforce that lives around it. “That’s where everything started fifty years ago and it’s where tenants still want to be.”

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt. NET LEASE Fall 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.