The final development phase of Pullman Crossings — a 50-acre industrial park — is now underway, making the transformation of one of the largest undeveloped swaths of land in Chicago almost complete.
Minneapolis-based Ryan Companies and its project partners broke ground on the fourth phase of the development, 10800 S. Doty Ave., in late November.
The sprawling building will be completed in August 2025, capping off the hundreds of jobs and economic activity the industrial park has generated on the South Side since the development kicked off in 2017.
“This project will hit the market at the right time and will bring a valued — not only company, but member — to the Pullman neighborhood,” Mark Koske, real estate development manager at Ryan Cos., said.
The fourth phase includes a 160,000-square-foot industrial building on 10 acres. The Class A, speculative building will have similar amenities to previous buildings in the park such as outdoor eating areas, employee parking, bike racks and a 32-foot clearance height in the warehouse.
A speculative build means there’s no secured tenant yet. Commercial real estate firm CBRE is handling leasing.
Koske said there isn’t a tenant secured for the property, but the company is confident it'll find a tenant. The park currently includes distribution centers for Amazon and Whole Foods, along with an SC Johnson warehouse, Walmart, the Pullman Community Center and an Advocate Health Care facility.
There’s food and beverage companies in the market for industrial space with a desire to be on the South Side, Koske said. Light manufacturing, warehousing and general distribution users could also occupy the building.
“In 2019, we pioneered [speculative industrial buildings] in the Pullman neighborhood and successfully brought SC Johnson as the tenant for the entirety of the building, which was a great success for Ryan Cos.,” Koske said. “We believe that by evaluating market dynamics and tenant demand ... that these last two phases will hit the market at the right time.”
The final phase is a joint venture between Ryan Cos., Namdar Realty Group and Mason Asset Management. Construction financing is being provided by Bankers Trust.
Ryan Cos. broke ground in September on the third phase of Pullman Crossings — a 170,000-square-foot building that will be finished in March 2025, according to Koske.
The industrial park sits inside Pullman Park, a 180-acre, mixed-use development spearheaded by Chicago Neighborhood Initiatives.
Development has recently been booming in Pullman, with the neighborhood serving as a framework for development in long-neglected communities. Koske said much of the credit for the park’s success goes to CNI, which tapped Ryan Cos. to develop Pullman Crossings, along with Ald. Anthony Beale (9th).
Since 2017, the team has brought more than 685,000 square feet of new development to the Pullman Park area. The industrial park has also created about 600 jobs.
“Once we saw the initial success and the high-valued companies and tenants that desired to be in the area, we broadened that vision and continued to work at it alongside Ald. Beale,” Koske said of the park. “We believe that this final phase will top it off correctly.”
