Infill property with heavy power has not been available in over 40 years
NAI Hiffman, the Midwest’s leading independent commercial real estate firm, announced it has been retained to market a rail-served manufacturing facility and warehouse at the Calumet Business Center, a 12-building industrial complex on Chicago’s South Side, just a quarter-mile from the Bishop Ford Freeway. The property has continuously operated as a printing facility since its construction in the 1960s.
The two buildings — at 9540 S. Dorchester Ave. and 1400-1570 E. 98th St. — comprise nearly 400,000 square feet and are being marketed for the first time in at least 40 years. Longtime tenant WestRock Co., a paper and packaging manufacturer, is occupying the space until Oct. 31.
“With their proximity to the Norfolk Southern Railroad, several major expressways and a deep labor pool, these two buildings at Calumet Business Center represent a remarkable opportunity in this historically tight industrial market,” said NAI Hiffman Executive Vice President Chris Gary, who is leading leasing efforts on behalf of ownership. “In offering a mix of distribution, manufacturing and office space, the properties can accommodate a range of users who understand the rarity of this offering.”
Spanning 171,257 square feet, 9540 S. Dorchester includes two drive-in doors, 11 exterior loading docks with 18-foot-6-inch to 28-foot clear heights, and 1,600 square feet of office space. The second building is slightly larger, measuring 211,928 square feet, and includes 26 exterior loading docks with 18-foot-9-inch clear heights and approximately 6,000 square feet of office space. There are 3,000 amps of power at the site, lending both buildings to heavy manufacturing uses.
The Chicago South industrial submarket is the largest in the metropolitan area, comprising more than 117 million square feet, according to NAI Hiffman research. Yet with zero deliveries of new supply so far this year and just 442,601 square feet under construction at the end of the second quarter — less than 0.5% of the total inventory — conditions have tightened. As a result, vacancy was 4.8% at the end of the second quarter, lower than the Chicagoland average of 5.8%.
Glen Una acquired the Calumet Business Center in 2017. Anchor tenants include Del Monte Foods, Grand Warehouse, WSI and Cargill.
About NAI Hiffman:
NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is headquartered in suburban Chicago, with more than 200 employees strategically located throughout North America. For more information, please visit hiffman.com.
About Glen Una Management Co.:
Founded in 1997, Glen Una is a well-capitalized private real estate investment company with ownership and control of more than 11 million square feet of commercial property across 17 states. The company currently owns and operates more than 9.3 million square feet of industrial space in cities including Atlanta, Baltimore, Chicago, Denver, Phoenix and St. Louis. For more information, please visit glenuna.com.
Glen Una has retained NAI Hiffman to lease two warehouses at the Calumet Business Center, a 12-building industrial complex on Chicago’s South Side. This marks the first time the space has been available in at least 40 years.