The last undeveloped industrial site in Lombard, Ill. — O'Hare DuPage Business Center — was recently sold by ICE Realty Group for $3.2 million to Gallagher Realty and TCB Development, a Chicago-based developer. The sale of the property was no small task and was only finalized after a 24-month entitlement process.
The O'Hare DuPage Business Center is a particularly appealing property because it sits on 13.29 acres of land just 15 minutes southwest of O'Hare Airport. The site is made up of three back-to-back parcels, the largest of which is 11.14 acres and has been owned by a private trust for more than 30 years. The second is a 1.89-acre parcel owned by the village of Lombard, and the final 2.45 acres are used for a right-of-way road.
Jonathan Malm, president of ICE Realty Group, says, “These three pieces work together to provide a developable parcel that allows for efficient building layout, smooth traffic flow, off-site detention and the flexibility for additional parking and storage.”
ICE Realty Group's plans for the site include development of three industrial buildings ranging in size from 50,000 sq. ft. to 250,000 sq. ft. Additional acreage will be used to provide a private drive access road for the project.