Elion Unveils $2B Expansion Project for Logistics Park in Wilmington, Illinois
WILMINGTON, ILL. — Elion Partners has renamed RidgePort Logistics Center to Elion Logistics Park 55 (ELP 55) and planned a $2 billion development project at the site in Wilmington, approximately 40 miles southwest of Chicago. Following the expansion, ELP 55 will become the largest rail-served industrial park in the Midwest, according to the real estate investment firm.
Elion began acquiring land for the park in 2016. To date, 6.3 million square feet of multi-tenant and build-to-suit space exists. Some of the tenants include Post, Lineage and Batory Foods.
The master plan comprises up to 2,500 acres, which includes an existing, full-service TA Petro Travel Plaza and up to 140 acres for planned commercial development. Current projects underway include an on-site first responders’ station, interconnectivity via planned pedestrian walking paths and an on-site helipad.
ELP 55 features two miles of frontage along the BNSF’s Transcontinental Mainline with up to 12 million square feet of potential rail services, and three miles of I-55 frontage with a complete interchange. The park is located in a regional distribution hub that reaches 27 percent of the U.S. population within a one-day drive, according to Elion.
“The goal is to develop a mixed-use logistics park that aligns with the values of the local community, as the logistics industry continues to change,” says Shlomo Khoudari, co-founder and managing partner at Elion. “We recognize the ever-increasing demands of consumers.”
Elion also plans to offer enhanced amenities for the trucker and warehouse workforce. These include showers, laundry, vehicle service, business services, restaurants and entertainment. In addition, Elion intends to place a larger focus on the environmentally responsible features of the park, including 40 acres of natural ponds for improving water quality and preserving the habitats of local wildlife.
Miami-based Elion serves as both a fiduciary and an operator of real estate assets, managing more than $1.5 billion through several investment vehicles.
— Kristin Hiller