Activity and Demand Hold Steady at O’Hare
Most new construction buildings near O’Hare are in the mid-size range due to lot sizes. The largest building in the O’Hare submarket over last 10 years was 539,000 square feet. The average size to date in 2019 built or under construction is 165,705 square feet. That’s actually trending down as the average new building size was 181,836 square feet between 2008 and 2018.
However, Bridge Development Partners is currently developing the 741,000-square-foot Bridge Point Itasca, at the western edge of the submarket. Located on a 48-acre site at the intersection of Interstate 290 and IL Route 390, the site is a greenfield anomaly for O’Hare as it was formerly occupied by a since-demolished radio transmission tower. That project is slated for delivery mid-2020.