Investors buy land in West Chicago for warehouse

WEST CHICAGO - Stonemont Financial Group said Tuesday it has closed on the land for a 258,720-square-foot industrial warehouse development slated for completion in February,

The 17-acre project, called DuPage Crossings, will sit at the corner of Washington Street and Charles Court in West Chicago, offering immediate access to I-88 and the surrounding cities. The building will feature 36-inch clear heights, 32 exterior docks, 45 trailer parking stalls, 219 car parking spaces and the warehouse will be divisible up to 130,000 square feet.

Financial terms of the transaction were not disclosed.

Stonemont Financial, an Atlanta-based private real estate investment firm specializing in industrial development, acquisitions and net lease investments, is partnering with developer Stotan Industrial to build the warehouse distribution facility.

"We are pleased to continue expanding our portfolio of Class A projects across the Heartland with our newest initiative in West Chicago," said Stonemont CEO and managing principal Zack Markwell. "Our firm's goal remains to seek out high growth, versatile locations in markets close to large labor pools."

In the last 12 months, Stonemont has invested over $200 million in the Chicago market and continues to seek opportunities in the region as vacancy rates here remain at historic lows and the demand for industrial space continues to outpace supply, the company said.