Dermody Properties Breaks Ground on 381,600 SF in Chicago
Dermody Properties recently broke ground on a 381,600-square-foot industrial facility in the Central DuPage submarket of Chicago. The facility, known as LogistiCenterSM at North Avenue, is located at 365 North Avenue in Carol Stream, Illinois. Carol Stream Mayor Frank Saverino and several village officials celebrated the groundbreaking with Dermody Properties on November 3.
“We are excited to celebrate this groundbreaking and look forward to completing construction,” said Michael Dolan, Partner, Dermody Properties Midwest Region Office. “LogistiCenterSM at North Avenue will be an ideal home for companies in need of a premier industrial facility in the Chicago market with excellent access and exposure on the North Avenue Corridor.”
LogistiCenterSM at North Avenue is a state-of-the-art bulk warehouse distribution center ideal for local, regional and national operations, including e-commerce companies. The facility is strategically located less than four miles from I-355, with direct access to the Interstate via North Avenue. The site’s location takes advantage of the I-390 expansion project, Chicago’s newest expressway that improves regional access to the west side of the O’Hare International Airport.
“Chicago is a highly desirable market for e-commerce compliant facilities and modern distribution centers, and we are pleased to be expanding our portfolio here,” said Douglas A. Kiersey, Jr., President, Dermody Properties. “Dermody Properties is continuing to seek out acquisition and development opportunities in the region.”
John Cash, Executive Vice President, Adam Naparsteck, Vice President and David Haigh, Vice President, of NAI Hiffman are representing the property on behalf of Dermody Properties. Other partners on the project include FCL Builders, the general contractor, Jacob & Hefner Associates, the civil engineering firm, and Harris Architects.
Pictured from left to right: Lou Berchicci, Mike Dolan, and Doug Kiersey – Dermody Properties; Carol Stream Mayor Frank Saverino; Michael Dermody and Doug Lanning – Dermody Properties; and Don Bastian, Village of Carol Stream.