Amazon Expands Chicago-Area Presence

North Avenue Commerce Center

Amazon has signed a 215,550-square-foot lease at the 265,550-square-foot North Avenue Commerce Center in Winfield, Ill.

The transaction marks the e-commerce giant’s third deal with Conor Commercial Real Estate over the past year. In mid-July, Amazon signed a full-building lease for the 316,500-square-foot Last Mile Logistics Center I-55, located on the southwest side of Chicago.

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Situated at 27 W. 460 St. Charles Road, the asset occupies 17 acres on the southwest corner of North Avenue and Morton Road. The property is 6 miles from Interstate 355 and the Interstate 390 expansion project, 10 miles from interstates 290 and 88, as well as a little over 22 miles from O’Hare International Airport.

Completed in 2019, the Class A facility features 32-foot clear height, 50-by-52-foot column spacing, ESFR sprinkler system, 56 truck docks and four drive-in doors. Additionally, the property includes 12 trailer parking stalls and 288 vehicle parking spots. McShane Construction Co. and Ware Malcomb provided construction and design services, while CommercialEdge data shows Associated Bank provided $13 million in construction financing in 2018.  

The industrial sector has weathered the pandemic-induced difficulties with relative ease due to a surge in e-commerce activity. The ongoing demand for industrial space has sustained rent growth, while keeping vacancy rates low. In the most recent CommercialEdge Industrial report, the Chicago market saw a 7.2 percent vacancy rate as of January. Additionally, average rents rose 3.5 percent year-over-year, reaching $5.2 per square foot.