428,431 SF on 25 acres
Infill Spec Redevelopment
Midwest acquired the infill site containing multiple functionally outdated buildings and recognized the market need and lack of supply for this type of Class A speculative building in the submarket.
- Managed all land acquisition, entitlement, pre-construction, financing, design, and permitting processes for the development of this project.
- Navigated complex Planned Development approval process complicated by neighboring residential use. Midwest was under contract prior to and during the onset of Covid-19, further complicating activities and timing.
- Secured municipal approval of the “Class 6b” property tax incentive, effectively reducing the taxes by +/-50% over a twelve-year period.
- Managed all development and construction services for the project, including in-house design/build general contracting and completed both the demo and building on time and on budget.
- Site formerly contained a mix of industrial and retail-use buildings owned and operated by Weber Grills. Now the Palatine Corporate Center consists of two modern industrial buildings (275,388 SF and 153,043 SF), with high-image precast concrete and glass, flexible building design for a range of tenants, 32’ clear ceilings, and up to 94 truck docks.