Marcus & Millichap is pleased to present the opportunity to acquire the property located at 11313 Katherines Crossing in Lemont, Illinois. The subject property consists of approximately 13.55 acres of land. Currently zoned A-1 for agricultural use, the property can support up to 200,000 square feet of industrial space for warehousing, distribution, or light manufacturing under rezoning. Situated near the interchange between Interstates 55 and 355, the site provides regional and national logistics connectivity. The property is positioned within a well-established industrial park with a diverse range of businesses supporting strong tenant demand. While located in an unincorporated area of Will County, the property is included in a comprehensive plan by the Village of Woodridge to encourage future development.
The subject property is located in the South Interstate 55 Corridor, a massive submarket with 104.7 million square feet of industrial space. In 2024, about 318,000 square feet were absorbed on net, representing an 87 percent slowdown from the year before. After posting a decade’s high in 2023, net deliveries responded to demand by falling 70 percent last year to 1.1 million square feet. With supply outpacing demand, the vacancy rate in South Interstate 55 Corridor ticked up 70 basis points on the year to 4.1 percent. Despite only a small increase in vacancies, annual rent growth decelerated from 360 basis points to 3.2 percent, representing the slowest level since 2013. Going into 2025, only about 290,000 square feet were under construction in the South Interstate 55 Corridor, which is less than 1.0 percent of inventory (CoStar). With the reduction of new supply, vacancies and rent growth will largely be dependent on demand for the foreseeable future.
Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third largest metro in the nation. The metro houses 9.5 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 33 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).
BROKER OF RECORD
STEVEN WEINSTOCK
Illinois Broker of Record
One Mid America Plaza, Suite 200
Oakbrook Terrace, IL 60181
Office (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
License: 471.011175
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0370063)
