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Data center activity near O'Hare International Airport has emerged as one of the strongest asset classes in 2018's early weeks. A venture of RagingWire Data Centers is buying 19 acres within Hamilton Partners' Hamilton Lakes Business Park and will break ground on a 200K SF data center this spring.
Hamilton Partners partner Patrick McKillen said the center could be expanded to 550K SF to meet future demand. The Itasca business park has experienced sizable activity across multiple asset classes in the past year. RMK Development opened the Residences at Hamilton Lakes, a 297-unit apartment complex, in August. The American Academy of Pediatrics opened its new 183K SF headquarters at Hamilton Lakes last fall.
RagingWire's acquisition comes on the heels of Brennan Investment Group's purchase of 85 acres in Elk Grove Village, where it plans to build a $1B technology park. Stream Data Centers is opening a 131K SF data center in Elk Grove Village later this year.
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