Cawley Commercial Real Estate brings an industrial warehouse property to the market located at 12900 Throop Street in Calumet Park, Illinois. At 62,200 SF, this site offers outside storage and is within close proximity of I-57. This listing is represented by Cawley brokers; Joshua Hearne, SIOR and Calvin Gunn.
Near South Cook Submarket
The Near South Cook submarket runs along I-294, beginning at the intersection with I-55, and flows into southern Cook County to the area in between where I-57, the Bishop Ford Expressway (I-94), and I-80 converge around the manufacturing areas and rail yards, including Blue Island, Hazel Crest, and South Holland. The building stock in the submarket is dominated by 1970s-era, low ceiling, small bay properties. The submarket contains multiple 500K-plus SF distribution facilities located nearby I-57, I-294 and the submarket’s multiple rail yards.
Vacancies have been tight this cycle in Near South Cook, and given the fact that the pipeline is thin, there is a good chance they can remain healthy in the near term. Rent growth is strong at the moment, which has been trending in Near South Cook since 2013 when cumulative annual rent growth exceeded 2.5%. Moreover, an uptick in investment in Near South Cook has led to about 50% of total inventory changing hands since 2014. While last years turnover and volume numbers are down from 2016-17, pricing is on the rise, with the average price per SF above $65.
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