Aeroterm announces the development of 820,000 square feet of Air Cargo Facilities at Chicago O’Hare International
Aeroterm, the leading investor, developer and manager of airport industrial property in North America, announced today an agreement has been reached with the City of Chicago to develop 820,000 square feet of new air cargo facilities at Chicago O’Hare International Airport (ORD. The project must still receive City Council Approval.
In addition to developing the cargo warehouse and office facilities, Aeroterm will construct new aircraft parking ramp capable of accommodating new generation aircraft including the Boeing 747-8 series aircraft. Once completed, the facilities will be leased to industry leading airlines, cargo handling companies and other airport users.
The $200 million project is expected to create approximately 1,200 construction jobs, 1,200 permanent on- site cargo jobs and 10,000 regional jobs related to this development. “This project will vastly increase O’Hare’s cargo operations capacity, create thousands of quality jobs for Chicagoans, and increase Chicago’s competitive position as a global transportation and cargo leader,” stated Mayor Rahm Emanuel.
The site to be developed is located on the northeast quadrant of ORD, in an area generally bounded by Johnson Road to the north, Patton Drive to the east and Runway 4L/22R to the west and the new general aviation ramp to the south.
The Project will be built in three phases on approximately 65 acres of undeveloped property. The first phase includes construction of a 428,000 sf building with cargo and office space and 800,000 sf of adjacent aircraft ramp. Subsequent phases will include construction of additional buildings with cargo and office space as well as new ramp space. All aspects of the development will incorporate green planning, design and construction practices under the guidelines of the CDA Sustainable Airport Manual, including green roof space.
“It has been a pleasure working in cooperation with Commissioner Andolino and her team at the Chicago Department of Aviation. Their results oriented approach was a key factor in moving the project forward” stated Erin Gruver, Executive Vice President of Acquisitions and Development for Aeroterm. “Mayor Emanuel’s support of O’Hare Airport’s continued growth and enhancement cannot be understated, it is a critical driver in maintaining O’Hare’s position as a global leader.”
Aeroterm currently owns and manages approximately 1 million square feet of on-airport cargo facilities at ORD. While Aeroterm’s existing facilities are not aircraft ramp served, this new airside development will significantly strengthen Aeroterm’s position at this premier gateway airport and enhance its ability to respond to the needs of the aircraft ramp dependent users and the growing air cargo sector.
“John Cammett, Aeroterm’s President and CEO, emphasized that the continued investment by the company in aviation infrastructure at ORD demonstrates the importance of the airport in the movement of valuable goods through the global supply chain.”
Aeroterm was selected by the City from a competitive Request For Proposal process which was based on predetermined selection criteria. Under these criteria, Aeroterm’s development proposal was identified as superior regarding airport development experience, the economic benefit to the City, advantages for airport users, efficient site and facility design, minority participation and green endeavors.