Wood Dale to Annex 9.6 Acres for Industrial Redevelopment
The Wood Dale City Council has approved a developer’s proposal to incorporate approximately 9.6 acres of land in 20 unoccupied residential parcels along Washington Street into Wood Dale’s industrial park to be redeveloped as a state-of-the-art light industrial facility. The voluntary annexation and redevelopment of this unincorporated area, has been a long-term goal for the City that has now been achieved.
Transwestern Development Company closed this past February on the 20 properties that comprise the underutilized site. The redevelopment, previously identified by the City on potential future land-use projections, will add value by serving the community through the creation of more than 115 jobs, and added tax and permit revenue for Wood Dale. Mobility will also be enhanced by providing added pedestrian access along Central Avenue.
The site plan calls for a 159,170 square-foot mixed-use office/warehouse and manufacturing facility to be designed to accommodate the growing need for modern and efficient logistics and manufacturing space.
Wood Dale’s location, access to O’Hare, healthy economic conditions and the entire region’s low industrial vacancy rate (Wood Dale recently reached a historic low of .49%) have made it a top performing location within the Chicago O’Hare market.
“This is an ideal opportunity,” said Director of Economic Development Ed Cage. “Developments such as this have been in high demand in the area, and the timing for the annexation could not be better.”
Transwestern has redeveloped similar sites in neighboring communities such as Franklin Park and Bartlett and has fostered tenant/user relationships with premier global businesses such as Johnson & Johnson, Siemens, Sharp, Hanes, Toyota, FedEx and a multitude of others.
The ambitious project has a target completion date of January 2020.