West Pullman Industrial Center

1000 West 119th Street, Chicago, IL, 60643, US

Description de l'actif

Jones Lang LaSalle Americas, Inc. (“JLL”), on behalf of DL3 Realty (the “Sponsor”), is pleased to present the opportunity to provide joint venture equity for the development of the West Pullman Industrial Center, a 36’ clear, LEED Certified, Class A speculative distribution facility totaling ~413,400 square feet. (“The Asset” or “The Offering”) This 24-acre parcel represents the first significant industrial development site to become available in Chicago’s West Pullman Planned Manufacturing District (“PMD 10”), offering immediate access to all of Chicago’s major transportation infrastructure through I-57.

Widely recognized as the largest intermodal hub in North America, Chicago’s vast railroad network, inclusive of all seven (7) Class I railways, has driven demand for industrial product with 5.84 MSF of net absorption YTD and vacancy below 5%. Additionally, with just 1.2 MSF of product delivered in Chicago’s South submarket in the past three (3) years, rents have increased over 20% since 2021 and are likely to continue that upward trajectory with less than 500,000 SF of product currently under construction.

...

Caractéristiques de l'actif

Surface de l'actif Net

38 406 m²

Taille du terrain Brut

9,83 hectare

Média

Points clés d'investissement

Rare speculative development opportunity in Chicago’s West Pullman PMD

This site is the first significant parcel to become available in Chicago’s West Pullman Planned Manufacturing District.
Fully entitled site, 6B Tax Abatement application in progress

Highly accessible location with direct access to I-57

15-miles south of Chicago’s CBD, the Project will enjoy proximate access to I-57 connecting users to I-94 and the rest of the Chicago MSA.
The Project is within 6 miles of three major intermodal nodes, a significant demand driver for industrial users.

Outstanding Chicago industrial fundamentals

Chicago’s overall vacancy rate remains below 5%, demonstrating the resilience of one of the nation’s largest logistics hubs.
The Chicago South submarket is even stronger, with a sub-4% vacancy rate and extremely limited new supply in the pipeline.

Established Chicago-based sponsor