Cawley Commercial Real Estate has completed the sale of 14110 S. Route 59, a 340,000-square-foot industrial facility situated on a 42-acre site in Plainfield, Illinois. Cawley CRE represented the seller in the transaction, with Joshua Hearne, SIOR, leading the assignment.
Tower Real Estate Development (TRED) and RAK Realty Group acquired the property through a joint venture, planning to reposition the asset from a Class C industrial facility to a Class A industrial property.
The site is the first industrial property positioned at the entrance of the new 143rd Street corridor extension, providing direct access to I-55. It also offers access to a former direct CN rail spur, proximity to BNSF rail, and high visibility and accessibility at the prominent intersection of Route 30 and Route 59.
Improvements will be managed by Redwood Construction Group and will include a complete building reskin with a new precast facade, new mechanical systems, updated sprinkler systems, new office buildouts, new dock levelers and doors, and conversion to a cross-dock configuration. The south portion of the site and building perimeter truck court lanes will be newly paved, while the existing truck court will remain, with capacity for more than 200 truck stalls or equipment storage.
Hearne’s extensive knowledge of the I-55 industrial corridor and long-standing relationship with the seller played a key role in positioning the property for the transaction. Supported by Cawley CRE team members Reinier Pranger and Andrew Bobak, Hearne led a deliberate marketing and advisory process that ultimately connected the ownership with a buyer whose vision aligned with the property’s long-term potential.
“Assets of this scale and location rarely become available in the Plainfield market,” said Joshua Hearne, SIOR. “The combination of a 42-acre site, significant industrial infrastructure, and immediate access to major transportation networks made this a compelling opportunity. Our familiarity with the Plainfield market and I-55 corridor allowed us to understand the property’s long-term strategic value and ultimately align the ownership with a buyer that has the vision and resources to unlock its potential.”
The property’s location is expected to become even more accessible with the planned 143rd Street bridge connection, which will provide an additional route to I-55 and further enhance connectivity throughout the surrounding industrial market.
The transaction highlights continued demand for well-located industrial assets along Chicago’s I-55 corridor and Cawley CRE’s ability to leverage deep market expertise and long-standing relationships to execute complex transactions and identify strategic opportunities for its clients.
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