Hoffman Estates approves another spec industrial building near Bell Works
Having recently seen Microsoft announce plans for a $200 million data center complex and a neighboring spec industrial building adapted into an Amazon distribution center, Hoffman Estates officials are banking on the success of another spec building adjacent to Bell Works Chicagoland.
Village board members have unanimously approved plans for a 202,000-square-foot industrial building on 17 acres at 2685 Eagle Way in the Huntington 90 Business Park. A limited liability company of Rosemont-based Brennan Investment Group is behind the proposal.
In its community impact statement, the developer estimated the total project value at $15.6 million but said without future tenant information, the estimated revenue it will generate cannot be accurately forecast.
Representatives of the developer could not be reached for comment Wednesday.
Hoffman Estates Mayor Bill McLeod said that while spec developments often start with some indication of tenant interest, no specific names have yet been shared with the village.
Able to accommodate up to four tenants - just as the nearby Amazon distribution center originally was - the spec building is just southwest of the Bell Works redevelopment of the former AT&T corporate campus and north of the new Bystronic Inc. headquarters that faces the I-90 tollway.
When the Amazon distribution center was announced, McLeod said such high-profile names likely would attract more interest in the village.
"I really think the full interchange (at I-90 and Barrington Road) made a big difference," he added Wednesday.
The latest development will include 213 parking stalls on the north and west sides of the building, with 34 truck/trailer spaces at the south end.
Before the village issues a certificate of occupancy, a road improvement impact fee calculated at $87,077 must be paid.
Hoffman Estates has approved the first of two proposed 207,000-square-foot Microsoft data centers on Lakewood Boulevard north of Bell Works. And Amazon is aiming to prepare the 250,000-square-foot building at 3125 N. Barrington Road before the next holiday shopping season.
While much of the commercial property in the area is being spoken for, McLeod said there still remains a site at Barrington Road and Lakewood Boulevard, where a Meijer store was approved more than 21 years ago but never was developed.