Bridge Development, Akard Street to Develop Two Industrial Buildings in Metro Chicago
SCHILLER PARK, ILL. — A joint venture between Bridge Development Partners LLC and Akard Street Partners has acquired a 10-acre parcel in Schiller Park, approximately 20 miles northwest of Chicago, for the future development of two industrial buildings. The site, located at the intersection of Rose Street and Soreng Avenue, currently features approximately 200,000 square feet of functionally obsolete manufacturing space. Bridge will demolish the buildings and develop the Bridge Point Schiller Park on the site, which will consist of an 84,700-square-foot building and a 72,825-square-foot building. The project is slated for completion by the third quarter of 2017. The buildings will feature 32-foot clear ceiling heights, ESFR sprinklers, 125-foot truck courts, one loading dock for every 3,000 square feet, above-standard car parking ratios and office space to suit. Geoff Dowling and Daniel Tobin of CTK Chicago Partners represented the seller, Hostess Brands, in the transaction. Tom Rodeno and Patrick Turner of Colliers International represented Bridge. Rodeno and Turner will market the property for lease. Hunt Realty Investments will manage the joint venture.