600,000 SF two-building complex
Infill Spec Redevelopment/Repositioning
Midwest acquired the infill, multi-tenant properties located near the BNSF domestic intermodal yard. The properties had significant deferred maintenance and had become functionally outdated for modern users.
- 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 $20+ million visionary design, engineering, permitting, and new construction/redevelopment process.
- Completely repositioned and modernized the 6600 property in the marketplace, marking 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.
- Demolished 150,000+ SF of the main building to install:
- New high image precast concrete and glass façade
- New foundation system and structural 60’ speed bay
- 40+ new truck docks
- 135’ concrete and asphalt truck court
- New roof
- State-of-the-art HVAC system
- ESFR fire suppression system
- Completely repositioned and rebranded the 110,000 SF 6620 property, creatively wrapping it with new architectural metal, full concrete truck court, including trailer parking, office, roof, HVAC system, and 29 docks doors.
- Secured a long-term lease with a growing international auto parts supplier for 100% of the 6600 building within 6 months from shell building redevelopment completion.
- In 2020, this project was rewarded as a finalist for the most prestigious industry award in our market, NAIOP Chicago’s Industrial Redevelopment of the Year.