A long-quiet distribution warehouse in Downers Grove is on track for a small-business makeover, with WareSpace buying the vacant building and planning to carve it into dozens of micro-bay units for local entrepreneurs, contractors and e-commerce sellers. The roughly 72,000-square-foot conversion is expected to host more than 80 tenants once it is fully up and running, although design work and contractor bids are still in the works. The deal boosts WareSpace's Chicago-area footprint and highlights how hungry the suburbs remain for last-mile industrial space.
According to the Chicago Business Journal, WareSpace plans to renovate the 72,000-square-foot Downers Grove warehouse so it can lease micro-bays to more than 80 small businesses. That report notes the conversion still needs both a general contractor and an architect, which means neighbors should not expect to see construction crews on-site for at least several weeks, and possibly longer.
In a press release via PR Newswire, the company identified the property as 1400 Centre Circle, a 71,689-square-foot building constructed in 1979, and said the space will be repositioned into approximately 100 small-bay units with direct access to I-355, I-88 and I-294. WareSpace said the acquisition is its third in the Chicago area and that its portfolio now totals 26 facilities and more than 2.6 million square feet nationwide.
Market fundamentals are tight
Chicago's industrial market has kept vacancy rates low through mid-2026, with overall vacancy hovering near 4.8 percent and steady leasing activity putting extra pressure on small-bay availability, according to Cushman & Wakefield. DuPage County also hosts a dense concentration of employer firms, which helps fuel demand for smaller industrial footprints, per U.S. Census QuickFacts.
What tenants will get
WareSpace typically offers climate control, 24/7 access, loading docks, on-site managers and short-term leases, and some Chicago-area listings show prices starting under $1,000 per month, according to WareSpace. The firm already runs a facility on Thatcher Road in Downers Grove and says the Centre Circle conversion would give more contractors, e-commerce sellers and service businesses a suburban option that sits closer to their customers and workforce.
The Downers Grove purchase follows a run of recent acquisitions as WareSpace pushes to build density in key metro areas. The company bought a Renton property in April and has also been active in Southern California. The Puget Sound Business Journal and coverage of the Santa Fe Springs warehouse makeover have detailed those conversions and the broader strategy of turning older, freeway-adjacent buildings into dozens of rentable units.
Next steps for the Centre Circle project include selecting an architect and general contractor, securing permits and setting a construction schedule. Neither WareSpace nor village officials have released a timeline yet. If the plan stays on track, small-business owners in and around Downers Grove could soon see more affordable, flexible industrial space within a short drive of their customers and employees.
