Transwestern announced it represented Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave. in unincorporated Lemont, IL. Chicago Truck Parking, an operator of parking lots for tractor-trailers and other commercial vehicles, leased the site from Annapolis, Maryland-based Realterm Logistics. Vice President Terri Alexander, a member of the national Transwestern Intermodal Logistics Team (TILT), represented the tenant in the eight-year lease.
“This deal is one of the largest parking leases ever negotiated in metro Chicago in terms of both dollars and acreage, underscoring the demand for well-located tracts of land in suburban Chicago,” said Alexander. “Although parcels of this size are becoming increasingly difficult to find, we were able to identify the Lemont site as one that was large enough to accommodate nearly 1,600 trailers and close to nearby expressways, with Interstate 355 running above the property.”
Located in the I-55 industrial corridor, the property is close to nearby warehouses and just 2 miles from the four-way interchange at I-355 and 127th Street. The site also offers rail access.
“Realterm bought the site earlier this year and understood the severe shortage of parking for truck drivers, which made this lease possible,” said Alexander. “Locally, two other factors are fueling demand: a push to locate truck parking outside of municipalities and a need for parking near shipper and receiver locations, particularly in distribution hubs like Chicago.”
The new parking lot will allow Chicago Truck Parking to consolidate multiple yards into a single location. The company, which leases spaces to trucking companies and individual owner operators, plans to add lighting, fencing, electronic gates, security systems and an entrance pavilion on the west end of the site.
“Over the past decade, Transwestern has helped us secure several smaller locations. We wanted a larger site to make it easier to scale our operations. Transwestern broker Terri Alexander and I diligently pursued a lease for this 47-acre site for more than three years,” said Steve Scherrer, owner of Chicago Truck Parking. “With our new Lemont location, we will be able to sustain our growth while simultaneously improving the level of service provided to clients.”
The company will continue to operate its truck parking at Veterans Parkway and I-55 in Bolingbrook, Illinois. It will consolidate its Archer Avenue and Route 83 location in Lemont into the new location.