Midwest Industrial Funds Announces 148,500 SF Infill Redevelopment
Midwest Industrial Funds recently purchased an 8-acre infill site for redevelopment at 2001 Cornell, Melrose Park, IL. The nearly $20 million redevelopment plan calls for the demolition of the existing 150,000 SF building and replacing it with a new, state-of-the-art, 148,500 SF building. The project is in the West Cook Submarket and is 6 miles to O'Hare Airport entrance and 12 miles to the Chicago CBD.
The 148,500 SF new building will be divisible and will feature high image precast concrete and glass facades along with clerestory windows, 32' clear ceilings, 60' speed bays, 40+ truck docks or onsite trailer positions, as well as above standard parking ratios to cater to a multitude of users. The precast concrete panels will be manufactured by ATMI Precast.
Cushman & Wakefield represented the seller on the sale and will lead marketing efforts for the lease up of the new building. Midwest Industrial Funds is developing the property using their integrated in-house development and construction approach with MIF Construction LLC as the design-build general contractor. Harris Architects and Spaceco have each provided design services for the project.