An abandoned quarry site next to the Des Plaines River in Joliet attracted the eyeballs of industrial developers for more than a decade, but was left empty once they saw its old gravel piles and difficult topography. Potential uses didn't pencil out, and as the Chicago region’s industrial market boomed, sleek distribution buildings rose all around while the 270 acres remained vacant.
Today the same site near the interchange of I-55 and I-80 hums with activity, with hundreds of trucks each day moving in and out of the Rock Creek Logistics Center, a 1.2M SF facility at 3300 Channahon Road fully occupied by Target Corp. after it signed the region’s largest-ever industrial lease in 2019. Other spec buildings, maintenance and headquarters facilities recently popped up, and where the site touches the Des Plaines River, a marine terminal is under construction, where barges will eventually dock and ship out raw materials for builders in other markets.
Getting to that point meant finding a developer ready to look at the site with fresh eyes, according to NAI Hiffman Executive Vice President Eric Tresslar, who marketed it for years.
In 2016, Tresslar and his partner, Steve Connolly, helped complete a sale to Kyle Schuhmacher’s Ketone Partners, an Arlington Heights, Illinois-based firm, which began making plans to transform it into an active hub.“There were definitely some risks to doing that,” Tresslar said.But after years of booming demand, developers have gobbled up…
Read the full story here.