Chicago's old Stockyards just got a very 2020s addition: a brand-new, more-than-180,000-square-foot industrial building that is betting big on the South Side's logistics game.
The Missner Group has wrapped construction on a Class A, speculative industrial facility at 4002 S. Princeton Ave., bringing fresh, ready-to-occupy space to the Fuller Park neighborhood. The project, developed with Thackeray Partners, officially debuted with a ribbon-cutting last Thursday and is aimed at industrial, logistics and manufacturing users that want infill space without the wait.
What the building offers
The one-story structure clocks in at about 180,900 square feet and can be split into chunks as small as roughly 25,920 square feet, giving smaller operators a shot at a piece of the project. According to CBRE, the building features a 32-foot clear height, 20 exterior loading docks with room for expansion, two drive-in doors and 36 trailer stalls. There is heavy-truck parking on-site and 3,000-amp power service, all detailed in the leasing brochure.
Who built it and design goals
The Missner Group delivered the project in a joint venture with Thackeray Partners, which operates within a Greystar-Thackeray platform. Ground broke last year and moved quickly from dirt to delivered asset.
In a joint venture announcement carried by PR Newswire, CEO Barry Missner called the site “the type of project we believe continues to make sense in today’s industrial market: well-located, flexible and tenant ready.” The building is also pursuing LEED Silver certification as part of its sustainability goals, a detail noted by REJournals. The developers say they went speculative to keep pace with strong regional demand for infill industrial product.
Ribbon-cutting and leasing push
The ribbon-cutting for the completed building took place on June 25, marking the official handoff from construction site to leasing play. The facility is set up to accommodate multiple tenants, giving the team flexibility to court a range of users that prize the Stockyards' transportation links and labor pool.
“With the building now complete, our focus is on attracting users that can take advantage of the site’s connectivity, functionality and access to Chicago’s established industrial base,” Jackson Williams said, as reported by REJournals. Leasing is being handled by local SIOR brokers, according to the listing from CBRE.
Neighborhood context and incentives
The property sits within the Chicago Stockyards Industrial Park and taps directly into a web of expressways, with access to I-55, I-90/94 and the Dan Ryan interchange. That connectivity, developers say, makes the site particularly appealing for distribution and manufacturing operations that need quick regional reach.
The building also qualifies for Enterprise Zone tax benefits and Chicago’s Class 6b incentive for new industrial properties, according to a developer release published via PR Newswire. City permit filings during construction documented stormwater detention basins and a truck routing plan intended to keep heavy vehicle traffic off nearby residential streets, according to Urbanize Chicago.
Why it matters
The new building adds to a broader wave of infill industrial investment on Chicago’s South Side, where developers have been leaning into rail access, expressway links and a deep local labor pool. The Missner Group has other nearby projects and recently partnered with Cabrera Capital on another Back of the Yards site, a pattern highlighted in coverage of that Back of the Yards site.
Market watchers say well-located, speculative industrial “big boxes” are still relatively scarce across the Chicago region, a dynamic that helps explain the push to get 4002 S. Princeton from concept to completion, as Bisnow reported.
