[CPEO-BIF] Petroleum tank site, Franklin Park, Illnois

[Lenny Siegel <lsiegel@cpeo.org>]

Developer has big plans in Franklin Park

by Alex V. Hernandez
Pioneer Press (IL)
June 30, 2017

A site currently full of metal tanks in Franklin Park is in the early stages of redevelopment into a modern industrial facility.

Bridge Development Partners will seek to redevelop the property at 10601 Franklin Ave. into three industrial speculative facilities. The three new buildings would be 203,840, 288,760 and 174,720 square feet, respectively, according to village documents.

"In this development we're looking at spending north of $70 million, between land, construction, and at the end of the day, office improvements," Steve Groetsema, a principal at Itasca-based Bridge Development Partners. "This will be one of the larger redevelopments in this area ... and this will be one of largest redevelopments we've done in the last decade or so."

The current owner of the Franklin Park property is listed as Tulsa, Okla.-based Magellan Pipeline Company, according to Cook County property records. Magellan owns and operates petroleum product pipelines for the transportation of refined petroleum products like gasoline, diesel fuels, liquefied petroleum gas, and aviation fuels. .


…

For the entire article, see
http://www.chicagotribune.com/suburbs/franklin-park/news/ct-fhj-brownfields-grant-tl-0706-2-20170630-story.html

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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