Warehouse development surged during the pandemic. Now, it’s ‘a more normalized market.’

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Dermody Properties is redeveloping the former Allstate campus into a logistics park named the Logistics Campus in Glenview, Illinois. The project, with an estimated cost of $500 million, is expected to complete its first phase, including five buildings and about 1.2 million square feet, by the second quarter of the year. The redevelopment is a part of the warehouse building boom across the Chicago area driven by increased demand for warehouse and distribution space due to the surge in online shopping during the pandemic. However, the market shows signs of returning to pre-pandemic norms, with demand remaining strong. The completed logistics park could have 3.2 million square feet and create 2,000 to 3,000 jobs.

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