Range Group and HSA Commercial Real Estate, both based in Chicago, have recently purchased two adjacent parcels totaling 2.25 acres within the Kinzie Planned Manufacturing District on the Near West Side of Chicago.
The plan is to develop two small-bay warehouses with a total area of 35,000 square feet on these sites located at 2519 W. Fulton Ave. and 2520 W. Lake St., with design-build general contractor ARCO/Murray from Chicago leading the project. The leasing will be handled by Larry Goldwasser and Matt Cowie from CBRE’s office in Chicago.
According to Seth Halpern, principal and co-founder of Range Group: “This development will bring much-needed modern industrial space for small-bay users to the thriving Kinzie Industrial Corridor in Chicago.” He also mentioned that due to their close proximity to densely populated neighborhoods, these warehouses are ideal for businesses such as last-mile delivery stations or light manufacturing firms.
These new developments will benefit from being less than a mile away from Dwight D. Eisenhower Expressway and only about three miles away from Jane Byrne Interchange where major expressways like Eisenhower, Kennedy, and Dan Ryan converge.
This acquisition was reported by Connect CRE.
