The 55Industrial team specializes in all areas of commercial industrial real estate in the Chicago area! We provide a variety of commercial real estate services including the sales and leasing of industrial buildings, as well as market facts, trends, and interpretations relevant to the I-55 Corridor Industrial Market. Our website offers available commercial properties for sale and lease. We encourage you to browse available Chicago industrial buildings, warehouses, land for sale, and commercial listings. We look forward to assisting you with all of your industrial real estate needs!
A Message for January.
The first quarter of 2011 kicked off with positive momentum for the Chicago industrial real estate market with vacancy falling to pre-2009 levels. Net absorption climbed to 4 million square feet, resulting in a vacancy decline of 40 basis points to 11.3 percent. In the I-55 corridor submarket the vacancy rate has fallen to 9.2 percent which is the lowest vacancy rate in the I-55 corridor since 2007. In recent months, landlords have been standing firm on asking rents and some have been pulling back on tenant allowances. Lease terms have averaged between 3 and 5 years for renewals. Sales activity is returning as seen by one of the quarter’s most significant investment transaction involving the 211,000-square-foot R&D/flex facility in Aurora.It is still a tenant's market as the market continues to absorb space and bring the vacancy more into equilibrium. Falling vacancy rates have as much to do with leasing activity as it does with the dramatic reduction in speculative construction in the last two years. If market conditions continue to improve we could see a stabilization of rates for the Chicago industrial real estate market by the end of 2011.
If you have any questions, or if I can be of any assistance please call 847-655-8478. Read up on"Real Estate News" for information on the Chicago industrial real estate market, or any of the other 85+ real estate markets that Grubb & Ellis serves.
About Us.
Grubb & Ellis Company is one of the world’s leading full-service commercial industrial real estate organizations, providing a complete range of transaction, management and consulting services. By leveraging local expertise with our global reach, Grubb & Ellis offers innovative, customized solutions, and seamless service to owners, corporate occupants and investors throughout the globe. To learn more, please click here.
Jim Cummings
Grubb & Ellis Company
9550 W. Higgins Road, Suite 1050
Rosemont, IL 60018
West Highland Capital Partners Signs 5-Year Lease in Countryside Rosemont - Friday, January 27, 2012: Grubb & Ellis is pleased to have assisted West Highland Capital Partners in the lease of 25,557 sf in a building located at 5808 East Avenue, Countryside IL. West Highland Capital Partners is starting up a new upscale grocery chain, and this refrigerated facility will be their distribution center. Jim Cummings, Grubb & Ellis represented West Highland Capital Partners.
West Highland Capital Partners Signs 5-Year Lease in Countryside Rosemont - Friday, January 27, 2012: Grubb & Ellis is pleased to have assisted West Highland Capital Partners in the lease of 25,557 sf in a building located at 5808 East Avenue, Countryside IL. West Highland Capital Partners is starting up a new upscale grocery chain, and this refrigerated facility will be their distribution center. Jim Cummings, Grubb & Ellis represented West Highland Capital Partners.
3PL Saddle Creek Corp. Signs Lease In Elwood Building Rosemont - Friday, January 27, 2012: Jim Cummings, of Grubb & Ellis Company represented 3PL Saddle Creek Corp. in leasing 415,800 sf of space in Elwood, Ill. The distribution center is located on the campus of North American's largest Inland Port, CenterPoint Intermodel Center.
Siwin Corp. Purchases Channahon Building Rosemont - Friday, January 27, 2012: Grubb & Ellis is pleased to have assisted in the sale of the property located at 23315 S. Youngs Rd., Channahon, IL. Siwin Corporation purchased the industrial facility featuring convenient freeway & rail access, 24’ ceiling height, 10 docks, and 2 drive-in-doors. Jim Cummings, Grubb & Ellis Company, represented the seller, Smurfit Corporation.
Kohler to Lease 250,000 sf in Aurora Rosemont - Friday, January 27, 2012: Jim Cummings, Grubb & Ellis Company represented Kohler in the lease of 250,000 sf, at the property located at 901 Biltner Rd., Aurora, owned by Liberty Property Trust.
Central Freight Subleases to FedEx Rosemont - Friday, January 27, 2012: Grubb & Ellis assisted in the sublease of the truck terminal and warehouse facility located in Bolingbrook Corporate Center to Federal Express. Jim Cummings & Jack Cozzie, Grubb & Ells Company, represented the sublessor Central Freight, a subsidiary of Swift Transportation. The facility is a 60-door truck terminal with a 25,000 square distribution center totaling 53,220 square feet.
Madison Warehouse to Lease Joliet Facility Rosemont - Friday, January 27, 2012: Madison Waehouse signed a lease on the building located at 1695 Crossroads, in Joliet. The close proximity to I-80 & I-55 attracted them to the facility owned by IDI. Madison Warehouse will lease 208, 650 sf of the facility. Jim Cummings of Grubb & Ellis represented the lessee, Madison Warehouse.
