COMMERCIAL SERVICES (pg.14): ASSET/PROPERTY MANAGEMENT FIRMS CONSTRUCTION COMPANIES/GENERAL CONTRACTORS ECONOMIC DEVELOPMENT CORPORATIONS FINANCE FIRMS RE LAW FIRMS
VOL.35 NO.2
THE LEADING NEWS SOURCE FOR INDUSTRIAL REAL ESTATE PROFESSIONALS & USERS
APRIL 2025
‘Very competitive marketplace’: Build-to-suit activity surges as Chicago’s industrial market keeps its edge
By Brandi Smith
C
hicago’s industrial real estate market is off to a fast-paced and focused start in 2025 with completed transactions to date concentrated in key submarkets and below the 200,000-squarefoot range. Developers and brokers are seeing both resilience and selectivity across the region, especially in areas like DuPage County and near O’Hare International Airport.
Two industry leaders – Kelly Disser, Executive Vice President with the Industrial Services Group at NAI Hiffman, and Aaron Martell, Executive Vice President of the Central Region at Logistics Property Company – say confidence remains high despite macroeconomic headwinds and shifts in development trends.
“We continue to see strong demand in the areas where we focus and some sales and leases where we represent the property owners have achieved new price level/ unit pricing records. The second and third quarters of 2025 could be very interesting,” Disser said. “While the first 60 days of 2025 most transaction volume was DEVELOPMENT (continued on page 10)