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Shipping firm buys Northlake site

northlakesitejpegA Melrose Park shipping company paid about $3.1 million for a site in west suburban Northlake where it plans to build a 100,000-square-foot facility that would include its offices. Go To Logistics closed Jan. 15 on the 13-acre site at 165 W. Lake St., where it intends to tear down the existing 231,000-square-foot building. The company, which currently leases about 35,000 square feet at 2001 Cornell Ave. in Melrose Park, plans to start work this spring with a goal of moving to the new building in the fourth quarter, says Brian Carroll, a senior vice-president with Grubb & Ellis Co. who represented Go To Logistics. Larry Goldwasser, Larry Much and Jay Maher of NAI Hiffman represented the sellers, private individuals including two owners of Olmarc Packaging Co., a food packaging firm now out of business that was headquartered at the site. Source:  Chicago Real Estate Daily

January 2010 Global Economic Outlook web conference available OnDemand!

Decade in Review: The Industrial Market