Demand for redevelopment sites around ORD is causing land values to climb as the economy rebounds. User demand is driven by freight forwarders who require access to the tarmac and assembly and light manufacturers dependent on the deep labor pool and transportation infrastructure. Through September, ORD cargo tonnage is up 15 percent YTD. Speculative developers are seeing strong leasing momentum as evidenced by McNichols taking DCT’s 112,862 square-foot building at 2200 Arthur and CH Robinson filling Liberty’s recent delivery of 235,781 square feet at 333 Howard.

1. Chicago
Chart of the week: November 30, 2015
Source: JLL Research, CoStar
O’Hare industrial land values taking off
• Demand for redevelopment sites around ORD is causing land values to climb as the economy rebounds. User
demand is driven by freight forwarders who require access to the tarmac and assembly and light manufacturers
dependent on the deep labor pool and transportation infrastructure. Through September, ORD cargo tonnage is up
15 percent YTD.
• Speculative developers are seeing strong leasing momentum as evidenced by McNichols taking DCT’s 112,862
square-foot building at 2200 Arthur and CH Robinson filling Liberty’s recent delivery of 235,781 square feet at 333
Howard.
O’Hare
Property
Clock
2016-2017
projected
2015
2010
2005-2007
2012
2009
2011
2013
Panattoni- 2009
2050 Clearwater Dr
7.3 ac $23.44PSF
Nippon Express BTS -2009
401 E Touhy Ave
10.98 ac $32.41 PSF
Northern Builders-2011
11600 Grand Ave
12.3 ac $7.83 PSF
Duke-2012
1350 Estes Ave
26 ac $12.88 PSF
DCT -2014
2200 Arthur Ave
6.9 ac $13.30 PSF
Bridge Development-2015
11600 Grand Ave
12.3 ac $16.08 PSF
*Pending-2016
3400 Wolf Road
25 ac $17 PSF
Washington Properties-2007
1120 N Elis Ave
4.87 ac $26.49 PSF