Dermody Properties Breaks Ground On Logistics Campus

GLENVIEW, IL — After announcing last week it had officially acquired the 232-acre former Allstate corporate campus, Dermody Properties broke ground Thursday on The Logistics Campus, a planned, 10-building development on the property.

The Nevada-based logistics real estate firm has big plans for its newest acquisition, located at Sanders Road adjacent to Interstate 294. Dermody plans to covert office space into 3.2 million square foot of industrial space, calling the project a "major milestone in the era of e-commerce and work from home," according to a news release.

Dermody officials said it estimates The Logistics Campus will create jobs for more than 1,900 full time employees and generate millions in additional tax revenue that can go toward supporting schools and other local taxing districts.

"We are thrilled to officially break ground on The Logistics Campus, a redevelopment project to serve the Chicagoland area that stands at the intersection of two significant and durable trends — work from home and e-commerce," said Douglas A. Kiersey, Jr., president of Dermody Properties, headquartered in Reno, Nevada.

RELATED: Logistics Park Officially Coming To Former Allstate Campus In Glenview

In November 2021, Dermody purchased the majority of the campus for a reported $232 million. Part of unincorporated Northbrook since 1967, the Allstate property was annexed by the Village of Glenview in June after officials reached an agreement with the City of Prospect Heights.

During Thursday's groundbreaking event, Dermody leadership was joined by Village of Glenview President Michael Jenny, 14th District Cook County Commissioner Scott Britton, State Senator Julie Morrison. Dermody Properties Foundation presented a $10,000 donation to Northfield Township Food Pantry, in the name of the Village of Glenview, which was accepted by Northfield Township Supervisor Shiva Mohsenzadeh.

Dermody said last week construction on five buildings, totaling 1.2 million square feet, will begin immediately, with a scheduled completion planned for the second and third quarters of 2023.