In November 2016, NAIOP Chicago
named 2801 S. Western Ave. its
2016 Industrial Redevelopment of
As consumer demand for fast
and inexpensive home delivery of
2801 S. Western Ave. Project Summary
Location 2801 S. Western Ave., Chicago
Type of Site Urban
Development Type In;ll/Redevelopment, Building Renovation
Transportation Modes Car, Truck
Mix of Uses
Distribution/Ful;llment Center 260,000 sq. ft.
Loft Of;ces 9,500 sq. ft.
Cars and Vans 225
E-commerce Tenant 150,000 sq. ft.
The Chef’s Warehouse 127,000 sq. ft.
Site and Building Dimensions
Total Acreage 13. 2 acres
Total Square Footage 277,000 sq. ft.
Developer Venture One Real Estate
Architect/Architect Ware Malcomb
General Contractor Keeley Construction/Arco Murray
Leasing Broker Cushman & Wake;eld
Joint Venture Partner DRA Advisors
Tax Incentives A 12-year, 60% reduction in real estate taxes
Construction Loan Wells Fargo
Equity Venture One Real Estate and DRA Advisors
Short-term Debt Wells Fargo
Land Acquisition Q1 2013
Planning Started Q1 2013
Demolition Started 2013
Construction Started Q2 2013
Construction Complete Q4 2015
Total Project Costs $19 million
e-commerce purchases continues
to grow by double digits annually,
retailers and distribution companies are continuing to expand their
urban in;ll warehouse footprints.
Currently, e-commerce makes up
only 8 percent of total retail sales,
which means that there is still a lot
of room for growth.
This growth will result in opportunities for creative industrial developers to target in;ll locations like this
one for urban in;ll warehouses and
last-mile distribution facilities. ■
Matt Goode is a principal with Venture One