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  • Posted: September 24, 2016

    Danco Converting to Consolidate, Relocate Operations to Carol Stream Facility

    Danco Converting

    Cushman & Wakefield has represented Chicago-based Danco Converting in the acquisition of an 110,071 rentable square foot manufacturing facility located at 455 E. North Ave. in Carol Stream, Ill. Danco Converting, a commercial paper converting company, will consolidate and relocate its two Elk Grove Village, Ill., operations to the Carol Stream facility.

     

    Senior Director Chris Lydon, SIOR, of Cushman & Wakefield and Principal Chad Arthur of Arthur Brokerage Group arranged the acquisition on behalf of Danco, as well as the sale of its former facility located at 1901 Greenleaf Avenue in Elk Grove Village. “Our growing customer base has fueled the need for additional production capacity,” said Dan Mulvey, President and Founder of Danco Converting. “The new facility will dramatically increase our production efficiencies and allow for long-term manufacturing and operational excellence. This is a testimony to our continuous commitment to providing our customers with outstanding service.” The expansive facility will enable Danco to serve its growing customer base while efficiently operating under one roof. The company will bring approximately 65 new jobs to the new space and will also benefit from DuPage County’s attractive real estate tax basis. “This mission-critical move will offer endless opportunity for Danco’s continued business growth,” said Lydon. “We were fortunate enough to work with Dan Mulvey and his team to find Danco the perfect home within North DuPage County, a premier industrial submarket where demand is high.” Situated on 6.24 acres, 455 E. North Ave boasts 397 feet of frontage along Route 64/North Avenue and includes a combination of two-story office space, production and warehousing areas. Other key features of the warehouse and production asset include 14- to 20-foot clear heights, five exterior docks, one drive-in door, 8,000 amps of electricity and airlines throughout the facility. The centrally located property offers proximity to O’Hare International Airport, convenient access to major Chicago infrastructure and is well-positioned near an excellent labor pool.


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  • Posted: September 14, 2016

    Letter to the Editor:
    DuPage County is Far From Being 'Over'

    We noted with interest Crain’s coverage of news related to the Fitch rating of DuPage County. Far from being “over,” or the homogeneous land of “ranch houses and ranch dressing,” DuPage is a vibrant, attractive, diverse county with residents who speak more than 70 languages and who hail from all over the globe.

     

    What is unique about DuPage is our emphasis on, and success at, living within our fiscal means. And that’s really what’s at the heart of any financial rating. For the past eight and soon-to-be nine years, the DuPage County Board has not raised the county portion of its property tax. In FY 2017, the levy remains flat at $66.9 million. Our countywide elected officials and department heads have made a science of living within their budgeted amounts while providing outstanding service to citizens. We’ve been aided by our Accountability, Consolidation and Transparency Initiative which challenges us every day to reduce the size, scope and cost of local government. We can catalogue $100 million+ in projected savings due to collaboration, consolidation and streamlining operations. What’s frustrating is that rather than reward our outstanding fiscal management and prudent use of taxpayer resources, Fitch moved DuPage’s rating to AA+ from the AAA rating it bestowed just months before in January. This action was taken largely because we are not home rule and cannot unilaterally raise taxes, unlike Cook County. Under the new Fitch criteria, no non-home rule county in Illinois will be able to meet Fitch’s AAA standard. So instead of scoring in the top 1.5% of all U.S. counties, DuPage’s strong fiscal performance now ranks among the top 2.5% of all counties (71 out of 3,000 counties). We can’t help but wonder whether the taxpayers would rather have us score one small percentage point higher on a rating scale, or every year, dig deeper to pay higher property taxes? Given our collective experience with DuPage taxpayers and business owners, we feel fairly certain we know the answer. And we’ll sleep quite well at night helping our county “stay the course” we’ve set for meeting our obligations and squeezing every drop of value out of each hard-earned taxpayer dollar we receive. Dan Cronin Chairman DuPage County Board  


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  • Posted: September 5, 2016

    DuPage County New & Expanded Companies, 2012-2016 Highlights

    The following is a summary of projects from 2012-2016. The information below was prepared by Choose DuPage from various sources. In some cases, information may be estimated.

     

    2012

    Ace Hardware

    2222 Kensington Ct., Oak Brook
    Type of Project: Lease Renewal
    Investment: $28 Million
    Jobs Created or Retained: 740

     

    Edward Don

    9801 Adam Don Pkwy., Woodridge
    Type of Project: Headquarters
    Square Feet of Development: 362,500
    Investment: $25 Million
    Jobs Created or Retained: 400

     

    Ferrara Candy

    One Tower Ln., Oakbrook Terrace
    Type of Project: Headquarters
    Square Feet of Development: 39,000
    Jobs Created or Retained: Unknown

     

    Greco and Sons Foods

    1550 Hecht Dr., Bartlett
    Type of Project: Expansion

    Square Feet of Development: 33,000
    Investment: $2 Million
    Jobs Created or Retained: 100

     

    Midwestern University Dental Clinic

    345 Lacey Rd., Downers Grove
    Type of Project: New Facility
    Square Feet of Development: 193,200
    Investment: $120 Million
    Jobs Created or Retained: Unknown

     

    Universal Technical Institute

    2611 Corporate Dr., Lisle
    Type of Project: New Facility
    Square Feet of Development: 185,000
    Investment: $37.5 Million
    Jobs Created or Retained: 150

     

    2013

    Haynes Furniture/The Dump

    2660 S. Highland Ave., Lombard and 164 N. Meadow Rd., Addison
    Type of Project: New Retail & Warehouse Space
    Square Feet of Development: 349,000
    Jobs Created or Retained: 350

     

    C. Cretors & Company

    176 Mittel Dr., Wood Dale
    Type of Project: Relocation
    Investment: Unknown
    Jobs Created or Retained: 95

     

    Grundfos

    2001 Butterfield Rd., Downers Grove
    Type of Project: Relocation
    Square Feet of Development: 11,000
    Investment: $4.7 Million
    Jobs Created or Retained: 40

     

    Greencore Foods

    10350 Argonne Dr., Woodridge
    Type of Project: Expansion
    Jobs Created or Retained: 150

     

    Flavorchem

    1528 Brook Dr., Downers Grove
    Type of Project: Expansion
    Square Feet of Development: 47,000
    Investment: $7 Million
    Jobs Created or Retained: Unknown

     

    Orbus Exhibit & Display Group

    9033 Murphy Rd., Woodridge
    Type of Project: Headquarters
    Square Feet of Development: 350,000
    Investment: Unknown
    Jobs Created or Retained: 300

     

    2014

    Houghton Mifflin Harcourt

    One Pierce Place, Itasca
    Type of Project: Relocation
    Square Feet of Development: 110,000
    Jobs Created or Retained: 340

     

    Addus Healthcare Inc.

    2300 Warrenville Rd., Downers Grove
    Square Feet of Development: 59,000
    Investment: $9.4 Million
    Jobs Created or Retained: Unknown

     

    Ferrara Candy

    201 Carlow Dr., Bolingbrook
    Type of Project: New Facility
    Square Feet of Development: 75,000
    Investment: Unknown

     

    Fresh Thyme Farmers Market

    2650 Warrenville Rd., Downers Grove
    Type of Project: Headquarters
    Square Feet of Development: 40,000
    Jobs Created or Retained: 100

     

    True Heading USA

    55 Shuman Blvd., Naperville
    Investment: $55 Million
    Jobs Created or Retained: 180

     

    Sirva

    1 Parkview Plaza, Oakbrook Terrace
    Type of Project: Relocation
    Square Feet Leased: 53,372
    Jobs Created or Retained: Unknown

     

    2015

    Atlantic Packaging

    700 Kimberly Dr., Carol Stream
    Type of Project: New Facility
    Square Feet of Development: 387,443
    Investment: $40 Million
    Jobs Created or Retained: 100

     

    Corecentric Solutions Inc.

    191 E. North Ave., Glendale Heights
    Type of Project: New Facility
    Square Feet of Development: 350,000
    Investment: $17.5 Million
    Jobs Created or Retained: 350

     

    M&R Printing Equipment

    440 Medinah Rd., Roselle
    Type of Project: Lease
    Square Feet of Development: 319,885
    Investment: $19 Million
    Jobs Created or Retained: 600

     

    Robertshaw

    1222 Hamilton Pkwy., Itasca
    Type of Project: Headquarters
    Square Feet of Development: 54,150
    Investment: $6.5 Million
    Jobs Created or Retained: 125

     

    Semblex Corporation

    900 Church Rd., Elmhurst
    Square Feet: 98,233
    Investment: $10 Million
    Jobs Created or Retained: 186

     

    Shorr Packaging Corp.

    400 Ferry Rd., Aurora
    Type of Project: Headquarters
    Square Feet of Development: 242,732
    Jobs Created or Retained: 140

     

    Fellowes Inc.

    1789 Norwood Ave., Itasca
    Type of Project: New Facility
    Square Feet of Development: 500,000
    Investment: Unknown
    Jobs Created or Retained: 125

     

    DS Containers

    DuPage Business Center, West Chicago
    Type of Project: New Facility
    Square Feet of Development: 300,278
    Investment: Unknown
    Jobs Created or Retained: 15

     

    2016

     

    American Academy of Pediatrics

     

    345 Park Blvd., Itasca
    Type of Project: Headquarters
    Square Feet of Development: 183,000
    Jobs Created or Retained: 480  


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  • Posted: August 20, 2016

    Man bites dog? DuPage eyes public transit, bikes, to boost economy

     

    The head of DuPage County's economic development unit is plugging an unorthodox idea—better use of public transit, and even bicycles—as a critical step to boost the county's job market.

     

    In a panel presentation and a subsequent interview, new Choose DuPage President and CEO John Carpenter said "closing the last-mile commute issue" is one of four things the group will focus on to revitalize the county's economy.

     

    The others are more conventional but equally challenging: completing western ground access to O'Hare International Airport, commercializing research at Argonne National Laboratory and developing the county's huge but largely empty DuPage Business Center campus in West Chicago.

     

    Carpenter, a former American Airlines and Chicagoland Chamber of Commerce official, took over his new gig last fall. Since then, the phenomenon of large employers leaving the suburbs for downtown in search of top young talent has only strengthened, with McDonald's recently announcing it will move its headquarters to the former Harpo Studios site in Fulton Market.

     

    In fighting back, DuPage needs to consider all options—including expanded transit in an area that epitomizes the American love affair with the automobile, Carpenter said. His particular focus is "the last mile" between the county's many commuter rail stations and homes, factories and offices that are riders' final destinations.

     

    "There's no reason why millennials who live in the Loop can't get on the train and come out here to work," said Carpenter, whose county's population has leveled off at a bit under 1 million. But the lack of an easy connection is "a pretty big problem" now.

     

    To solve it, Choose DuPage and Metra are about to launch a pilot test in which app-summoned electric vehicles supplied by Burr Ridge-based InnovaEV would get commuters to the job. Choose DuPage also is eyeing a bicycle-sharing service like Chicago's Divvy to fill the commuting hole.

     

    At Argonne, a new incubator is about to begin bringing in companies, some of them tech firms and/or startups, to take advantage of the lab's research production. Once they come, Carpenter wants them to stay and expand.

     

    "There's no reason Argonne can't do for us what Silicon Valley has" for the San Francisco area, Carpenter said.

     

    The DuPage Business Center now occupies about 800 acres near DuPage Airport. It's one of the few areas of county with large chunks of open space ready for development, Carpenter said.

     

    Western access to O'Hare is particularly critical, with the potential to make the west side of the airport just as developed as the east side, with a dozen hotels, shopping, a convention center and a gambling casino in Rosemont.

     

    But a current dispute between the Illinois Tollway and the Canadian Pacific Railway about using CP land for the proposed Elgin-O'Hare Expressway is "very serious," Carpenter said. "The railroad has changed its position after years in which it said it would agree to a deal," he added, a change CP concedes but says it had good reason to do.

     

    Once the road is done and one of O'Hare's diagonal runways removed in two years, adjacent areas immediately to the west will be prime for development, Carpenter said. But that assumes Chicago officials eventually build some sort of people mover from the west side of the airport to its main terminals.

     

    Published by Crain's Chicago Online | Greg Hinz on Politics | Tuesday, August 23, 2016

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  • Posted: August 15, 2016

    Why Real Estate Developers Should Choose DuPage

     

    John Carpenter's 4-Point Plan for Economic Development

     

    John Carpenter Choose DuPage

    Choose DuPage CEO John Carpenter is aggressively pursuing business in DuPage County. Before he speaks at Bisnow’s “State of the Suburbs” event, Aug. 23 at the Westin Lombard Yorktown Center, John laid out four approaches he’s identified for further economic growth and development in the area. He's an expert at the power of persuasion. Before John joined Choose DuPage last September, he was SVP at the Chicagoland Chamber of Commerce, where he was responsible for public policy initiatives and leading the charge on legislative affairs. Prior to that he was VP of corporate affairs for American Airlines. John says he inherited a wonderfully talented staff that is dedicated to championing DuPage County as an complement to downtown Chicago as an economic generator. Here's what John has planned to compel business leaders and commercial real estate professionals to, well, choose DuPage County for their next major projects.

     

    1. Commercializing Ideas At Argonne National Laboratory

    In May, Argonne National Laboratory launched Chain Reaction Innovations (CIR), a onsite tech incubator for science and energy entrepreneurs, and is working with Choose DuPage to attract companies that would best benefit from Argonne’s world-class facilities and research. John says Argonne’s incubator is different from Choose DuPage’s Rev3 Innovation Center, which is geared toward innovation startups.

     

    2. Solving The “Last Mile” Commute Problem

    One persistent issue with companies that call the suburbs home is finding ways to make the commutes of office workers who choose not to drive to their jobs easier. Many office buildings aren't conveniently located to public transit alternatives such as train stations, a problem known as the last-mile commute. John says Choose DuPage and Burr Ridge-based Innova EV are exploring a pilot program with Metra that would use two-, four- and eight-passenger electric vehicles to get employees to work. If successful, it could lay the groundwork for similar programs throughout DuPage County. John says Choose DuPage is also exploring other options, such as bike share programs, with business leaders.

     

    3. Developing And Encouraging Growth At DuPage Business Center

    This 800-acre campus in West Chicago has a diverse communication system and accessible utilities onsite, allowing for a variety of layout and facility designs including build-to-suit, and has access to a broad transportation network John says has been underutilized for some time. John tells us Choose DuPage is talking with several interested parties about relocating to DuPage Business Center. DS Containers is adding 251k SF to its lease and will occupy a total footprint of 551k SF.

     

    4. Facilitating Western Access To O’Hare Airport

    This is well underway, with the ongoing extension of the Elgin-O’Hare expressway. The project, which is expected to be completed in 2025, dovetails with the Chicago Aviation Department’s expansion and modernization of O’Hare International Airport. Having simpler access to O’Hare from the western suburbs will save $145M in travel delays by 2020; create over 13,000 jobs annually during the project; boost local tax revenues by $29M annually; and most important, lay the groundwork for the creation of 65,000 jobs by 2040.

     

    Published by: Bisnow | View Original Article


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  • Posted: August 1, 2016

    Hyundai moves into new Central U.S. Regional office in Oakbrook Terrace

     

    Hyundai - 2 TransAm Plaza Dr

    Cushman & Wakefield announced that the Central Regional Offices of Hyundai Motor America (“HMA”) have relocated into TransAm Plaza Two in Oakbrook Terrace, Illinois.

    The multinational automotive company recently completed its move into 18,044 square feet on the top floor of the five-story office building located at 2 Trans Am Plaza Drive. HMA’s office move to Oakbrook Terrace places the company in a larger Class A building positioned adjacent to the Chicago Automobile Trade Association just off Butterfield Road (Illinois Route 56). It also repositions part of the company’s offices about halfway to Chicago from its former facility. The company is relocating a total of 75 employees for administration and dealer-related services that serve 13 Midwestern states and over 250 retail dealerships across the region. HMA officially executed the lease directly from the owner, American Landmark Properties, earlier this year in a deal valued at more than $4 million. The company relocated a portion of its regional office operation nearly 20 miles east from its subsidiary’s parts warehouse building at 1705 Sequoia Avenue in Aurora, Kane County. Notably, HMA had recently sold the 350,800-plus-square-foot industrial property in Aurora to Boston-based Cabot Partners in a separate sale-leaseback transaction valued at nearly $25 million. HMA’s service training center and parts distribution subsidiary, Mobis, will remain in the Aurora facility. Debra Streff, Senior Group Manager, Administrative Services, of HMA orchestrated the transaction on behalf of HMA, collaborating with brokers Donald Yahn, Brett Swartzbaugh, Jordan Rovito, Jason West, Sean Henrick and Michael Magliano of Cushman & Wakefield’s Irvine (Orange County) and Chicago offices, who joined forces to represent HMA in the deal. JBS Commercial represented the landlord. HMA’s project architect was EWP Architects, and construction was provided by Executive Construction, Inc.


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