Brennan Investment Group is betting big on the industrial market near O’Hare Airport, turning property that was still farmland a couple years ago into the $1 billion Elk Grove Technology Park.
The Rosemont-based firm is planning nine industrial buildings totaling 1.2 million square feet on the 85-acre parcel in Elk Grove Village, with two buildings already finished and two more under construction, according to the Daily Herald. The project also could include a hotel.
The Brennan development, roughly bounded by Higgins Road, Lively Boulevard, and Oakton and Stanley streets, is being built on the north side of Elk Grove Village’s sprawling industrial park, the largest in the country at six square miles.
Village officials said the development is close to landing its first tenant, a German aerospace firm looking to do manufacturing on the site.
Officials said they’re hoping to attract data centers to the project, adding to the 11 others in the village. Elk Grove Village is the epicenter of Chicago’s growing data center market, now the third largest in the country.
The village gained notoriety last year when it sponsored a college football bowl game, the “Makers Wanted Bahamas Bowl” to try to generate interest in the park. Officials already have committed so sponsoring the game again this year.
[Daily Herald] — John O’Brien