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Massive 1.2 Million-SF Tech Park Coming to Chicagoland

Brennan, Greenfield Partners Buy Largest Unimproved Tract in O'Hare Submarket for Site of Elk Grove Technology Park
January 23, 2018
Chicago-based Brennan Investment Group and Greenfield Partners out of Westport, CT will soon break ground on one of the largest speculative industrial developments in the country after acquiring an 85.76-acre site in Elk Grove Village, IL for the construction of a new 1.2 million-square-foot high-tech industrial and data center technology park.

Brennan worked closely with the city for the past two years to secure approvals for the development of Elk Grove Technology Park, which will be constructed on the former site of Busse Farm, a parcel long-pursued by developers and the largest unimproved site in the O'Hare industrial market, at 955 E. Higgins Rd. The company also acquired an adjacent 17-acre parcel on the same day as the purchase of Busse Park.

“Since announcing the project earlier this year, we have been gratified to see the incredible demand from high-tech industrial and clean manufacturing firms, as well as data center providers,” said Michael Brennan, chairman and managing principal of Brennan Investment Group. “With this transaction, we are ready to commence one of the most significant industrial developments in the country.”

The infill development will include more than 1.2 million square feet of high-image, state-of-the-art industrial and data center space. Slated to break ground later this quarter, the initial phase will focus on the build-out of high-end amenities to include ponds, water features, sculptures, bike paths and pedestrian walkways.

When finished, Elk Grove Technology Park will include multiple buildings, ranging in size from 75,000 to 250,000 square feet, to feature pre-cast construction, high-end glass facades, 32’ ceiling clearance and state-of-the-art systems.

Mike Sedjo, John Hamilton, Jack Brennan and Tony Gange of CBRE Chicago represented the seller, Tim Busse, as well as the acquiring venture in negotiations. Sedjo, Hamilton and Brennan have been retained to market the industrial space for lease, while Todd Bateman of CBRE's data center solutions team will oversee data center leasing.

For more information on the land sale, please see CoStar COMP #4114117.
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