Developer Buys Joliet Site for Distribution Center
Chicago-based Logistics Property Company paid $28.5 million for a 74-acre property in Joliet where it plans a 1.28-million-square-foot warehouse.
Updated on Nov. 4, 2026 in Commercial
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Logistics Property Company, a Chicago-based industrial developer, bought a 74-acre property at 23960 South Houbolt Road in Joliet for $28.5 million from chemical manufacturer Stepan Company, which had owned the site for decades. The company plans to build a 1,279,700-square-foot distribution center there.
Why it matters
The site's proximity to BNSF Railway's Logistics Park Chicago Intermodal and Union Pacific's Global 4 Intermodal Terminal makes it attractive for rail-linked distribution. For Joliet, the project signals continued warehouse development in the region's industrial corridor.
The 74-acre parcel sold for $28.5 million and will support a planned 1,279,700-square-foot building with a 40-foot clear height. Construction is expected to begin in 2027, and the developer has not announced a tenant.
The players
Logistics Property Company
A Chicago-based industrial real estate developer that has built large warehouse and distribution projects across the Chicago region.
Stepan Company
A Northfield, Illinois-based chemical manufacturer that sold the Joliet property after owning it for decades.
Amazon
The global e-commerce and logistics company that purchased LPC's Division Street warehouse in Chicago for $195 million.
The details
Logistics Property Company selected the site for its proximity to two major intermodal rail terminals. The developer previously spent at least $205 million on its Division Street warehouse in Chicago, which Amazon bought for $195 million earlier this month.
Timeline
2022: Logistics Property Company bought an 11.5-acre tract west of Goose Island for $55 million.
Last week: Schaumburg officials approved the company's plan to buy 55 more acres to expand 390 O'Hare Logistics Park.
Earlier this month: Amazon bought the Division Street warehouse for $195 million.
2027: Construction on the Joliet distribution center is expected to begin.
Market Landscape
The deal continues a push by developers to secure land beside major intermodal rail terminals in the Chicago region's industrial corridor. Logistics Property Company's parallel expansion in Schaumburg and its Division Street sale to Amazon show the same demand for large, rail-linked distribution space.
For Joliet residents and nearby businesses, the project means more truck traffic and warehouse jobs once construction is complete. Commuters and employers in the area should expect the development to shape local traffic and labor demand starting around 2027.
The takeaway
Large distribution projects near rail terminals can reshape a community's industrial base over several years. Residents and businesses in Joliet should watch the 2027 construction start and any tenant announcement.
Further reading
For more on industrial property deals, browse Commercial real estate coverage in the Joliet area.
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