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Transwestern Represents Chicago Truck Parking In 47-Acre Lease In Southwest Suburban Chicago

January 13, 2017

Transwestern today announces it represented Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave. in unincorporated Lemont, Illinois. Chicago Truck Parking, an operator of parking lots for tractor-trailers and other commercial vehicles, leased the site from Annapolis, Maryland-based Realterm Logistics. Vice President Terri Alexander, a member of the national Transwestern Intermodal Logistics Team (TILT), represented the tenant in the eight-year lease.

“This deal is one of the largest parking leases ever negotiated in metro Chicago in terms of both dollars and acreage, underscoring the demand for well-located tracts of land in suburban Chicago,” said Alexander. “Although parcels of this size are becoming increasingly difficult to find, we were able to identify the Lemont site as one that was large enough to accommodate nearly 1,600 trailers and close to nearby expressways, with Interstate 355 running above the property.”

Located in the I-55 industrial corridor, the property is close to nearby warehouses and just 2 miles from the four-way interchange at I-355 and 127th Street. The site also offers rail access.

“Realterm bought the site earlier this year and understood the severe shortage of parking for truck drivers, which made this lease possible,” said Alexander. “Locally, two other factors are fueling demand: a push to locate truck parking outside of municipalities and a need for parking near shipper and receiver locations, particularly in distribution hubs like Chicago.”

The new parking lot will allow Chicago Truck Parking to consolidate multiple yards into a single location. The company, which leases spaces to trucking companies and individual owner-operators, plans to add lighting, fencing, electronic gates, security systems and an entrance pavilion on the west end of the site.

“Over the past decade, Transwestern has helped us secure several smaller locations,” said Steve Scherrer, owner of Chicago Truck Parking. “We wanted a larger site to make it easier to scale our operations. Transwestern broker Terri Alexander and I diligently pursued a lease for this 47-acre site for more than three years. With our new Lemont location, we will be able to sustain our growth while simultaneously improving the level of service provided to clients.”

The company will continue to operate its truck parking at Veterans Parkway and I-55 in Bolingbrook, Illinois. It will consolidate its Archer Avenue and Route 83 location in Lemont into the new location.

Tim McCahill and Brian Vanosky of Lee & Associates represented Realterm Logistics in the lease.

ABOUT TRANSWESTERN

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Chicago and Rosemont offices, follow @TranswesternCHI.

ABOUT CHICAGO TRUCK PARKING

Chicago Truck Parking built its success by providing the best truck parking service in the Chicago area for both the owner operator and the large national carrier client.  For over a decade, CTP has strived to provide sites with easy access and has made cargo safety a high priority at its yards. With its new 47-acre facility in Lemont, IL, CTP will be supplying a state-of-the-art property, which will serve as a model for its national expansion. To find out more about Chicago Truck Parking, visit chicagotruckparking.com.

Transwestern represented Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave. in unincorporated Lemont, Illinois. The transaction is one of the largest parking leases in Chicago-area history. (Credit: Google Earth)

Transwestern represented Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave. in unincorporated Lemont, Illinois. The transaction is one of the largest parking leases in Chicago-area history. (Credit: Google Earth)