Logistics Property to build Chicago’s first multistory warehouse
Logistics Property Company (LPC) has plans to develop its 1237 West Division, which is 1.2 million square feet of logistics space across two floors that will offer both rooftop parking and an adjacent five-story parking garage.
LPC, Wells Fargo Bank N.A, Inland Bank and Trust and Associated Bank, N.A. have closed on the $150 million construction loan for LPC’s warehouse in Chicago.
The project will have direct loading on the first and second floors, each with a 135-foot truck court. The first floor will feature 36-foot clear heights, 28 dock doors and two drive-in doors. The second floor, which will be accessible by 53-foot tractor trailers via separate up and down double-wide ramps, will feature 33-foot clear heights, 28 dock doors and two drive-in doors.
The project is the first multistory warehouse in Chicago. It sits on an 11.5-acre site adjacent to the full four-way interchange at Division and Elston in Chicago’s near-north Goose Island neighborhood