Hilco moving forward with massive industrial project at shuttered power plant

The firm plans 1M sf of warehouses at the former Crawford Power Plant on the South Side

Aug.August 15, 2018 05:00 PM

Hilco’s Roberto Perez and the Crawford Power Plant

Hilco Redevelopment Partners is moving ahead with plans for 1 million square feet of warehouses on the site of the shuttered Crawford Power Plant on the South Side.

The Northbrook-based firm held community meetings this week on its plans to tear down the hulking former coal-fired plant and replace it with an industrial development, according to Block Club Chicago.

The plant was shut down in 2012 along with another coal-fired plant on the South Side after years of pressure from environmental and community groups.

The Chicago Tribune reported in February that Hilco plans to spend more than $100 million tearing down the Crawford facility, cleaning up the 70-acre site and building the new industrial complex near Interstate 55, Pulaski Road and the Chicago Sanitary and Ship Canal.

The complex, which is being built on spec, is expected to take up to two years to complete, the Tribune said.

Driven by rising e-commerce sales and a thirst for warehouse and distribution space, Chicago’s industrial market has been on a hot streak, with rents hitting a record high in the second quarter.

Hilco’s project site is within a broader swath of the Near Southwest Side that’s seeing a flurry of industrial investment and development. Not far away, Angelo Gordon & Co. bought a 189,000-square-foot baking plant for $20.3 million.

Banner Wholesale Grocers just developed a new warehouse at 3000 South Ashland Avenue, Amigos Foods is building a new 110,000-square-foot processing and warehouse facility near 51st and Kedzie, Venture One and USAA are developing a $17.5 million speculative logistics complex at 2445 South Rockwell Street, and Marina Cartage is building massive spec industrial complex at 2075 West 43rd Street. [Block Club] — John O’Brien

Related Articles

Alderman Anthony Beale (9th), Jeff Bezos and the 150,000-square-foot warehouse in Pullman (Credit: Google Maps, Getty Images, Ward09)

Amazon plans another giant warehouse in Chicago

Marc Jacobs store at 11 E. Walton St., Marc Jacobs (Credit: Getty Images and Google Maps)

Another one bites the dust: Marc Jacobs closes Gold Coast location

Ald. Walter Burnett Jr. (27th) and Steven Fifield, with a rendering of the project

‘Cap the Kennedy’ plan may be revived thanks to real estate money

Trammell Crow CEO Matt Khourie and a rendering of Fulton Labs (Credit: iStock)

Life sciences development may be Fulton Market’s next new thing

181 W. Madison St. and HNA Group Founder Chen Feng (Credit: Google Maps)

Embattled Chinese firm HNA Group refinances Loop skyscraper

Chariot Logistics Center and Jeff Bezos (Credit: Getty Images, Cushman & Wakefield, and iStock)

Amazon inks massive lease at Melrose Park distribution center

Tishman Speyer’s Rob Speyer & 320 North Sangamon rendering (Credit: Tishman Speyer)

Tishman Speyer lands $81M loan for Fulton Market spec office project

Cook County Assessor Fritz Kaegi (Credit: Twitter and iStock)

Cook County assesses priciest properties in suburbs at below recent sale prices: report