6600-6620 River, Hodgkins, IL – Hodgkins Center of Commerce

Project Size:        600,000 SF two building complex

Project Type:      Acquisition, Partial Building Teardown and Redevelopment

Opportunity:       Midwest acquired the infill, multi-tenant properties located in close proximity to the BNSF domestic intermodal yard.  The properties had significant deferred maintenance and had become functionally outdated for modern users.

Value Added:     

  • Performed extensive due diligence, engineering and project budgeting/bidding under very tight contract due diligence and closing timeframes
  • Secured municipal approval of the “Class 6b” property tax incentive effectively reducing the taxes by +/-50% over a twelve-year period
  • Managed all facets of the very complex $18+ million design, engineering, permitting and new construction/redevelopment process
  • Completely repositioned and modernized the 6600 property in the marketplace by demolishing 81,000 SF of the main building in order to install a new high image precast concrete façade (including new foundation system and new structural 60’ speed bay), added 40+ new truck docks, 135’ concrete and asphalt truck court as well as a new roof, state of the art HVAC system and ESFR fire suppression system. This marked one of the largest existing industrial building renovation projects ever completed by a developer in metro Chicagoland in terms of overall property size and total capital spend
  • Secured a long term lease with a growing international auto parts supplier for 100% of the building within 6 months from shell building redevelopment completion