Cold Summit launches ‘Windy City’ project
Cold Summit Development recently launched Cold Summit Chicago I, a new multi-tenant speculative cold storage project in the Chicago metro area.
The project features a 213,600-square-foot development, including 7,000 square-feet of office and fully convertible temperature-controlled suites, according to the organization. Sitework and construction have commenced, with forecasted delivery by August 2022. The project follows developments by Cold Summit in Dallas and Phoenix.
The Chicago cold storage market is limited in supply, thus creating a high barrier-to-entry for users and investors, Cold Summit said.
This makes the “Windy City” market an attractive candidate for development.
“Chicago is a premier market for industrial real estate, serving last-mile distribution to the third-largest metro population in the U.S., as well as filling its role as a national intermodal logistics hub,” said Alex Langerman, co-founder and COO of Cold Summit Development.
The project is located at 5020 W. 73rd St. in Bedford Park, Ill.
Bedford Park is an industrial hub that is located less than 15 miles from downtown Chicago, and only 3 miles from Midway Airport, with the project site adjacent to the CSX intermodal terminal, the largest in the CSX network.
“We are thrilled to bring our Class-A cold storage product to the dynamic Chicago market,” said Scott Pertel, president and CEO of Cold Summit Development. “In addition, we look forward to supporting the Village of Bedford Park education system and local children through our Cold Summit Giving mission.”
