January 2020

NAI Hiffman Timelines: Creating Value in Chicago’s I-80 Industrial Corridor

Owners & developers engaged NAI Hiffman brokers Steve Connolly and Eric Tresslar to help transform 269 acres of land in Joliet between I-80 and the Des Plaines River into one of Chicagoland’s most successful development projects of the past two years.timelines-video-thumb

Ketone Partners purchased the plot in 2016. Within a year, the NAI Hiffman brokers sold 75 acres to The OPUS Group and 25 acres to First Industrial Realty Trust for a 1.2 M SF facility and a 355,000 SF facility, respectively. The brokerage team was engaged by both developers to market their spec development projects, which were both delivered in the second half of 2018. By the end of 2019, the brokerage team sold an additional 25 acres and completed more than 1.5 M SF of leasing on the site.

Connolly and Tresslar completed five transactions valued at more than $150 million in less than three years. In the coming years, the location will be the site of a new toll bridge connecting I-80 to the northern area of the UP and BNSF intermodal terminals.

For more information about availabilities at this site, or for assistance on your next project, contact:

Steve Connolly, SIOR
sconnolly@hiffman.com | 630-693-0642

Eric Tresslar
etresslar@hiffman.com | 630-693-0650

Recent Blog Posts

Brokerage
News
Chicago Industrial Demand Keeps Pace with New Supply
January 2020

Chicago Industrial Demand Keeps Pace with New Supply

Brokerage
News
For the East-West corridor, vacancy is an opportunity not a liability
January 2020

For the East-West corridor, vacancy is an opportunity not a liability

Culture
Events
News
8th Annual Funding Futures Chicago Saturday, January 18 between 7:00 PM – 11:30 PM at FitzGerald’s Nightclub
January 2020

8th Annual Funding Futures Chicago Saturday, January 18 between 7:00 PM – 11:30 PM at F...