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Amazon nears deal to buy vacant 571K SF Goose Island warehouse in Chicago
The reported terms include covering most of a $150M construction loan from 2022, while leaving a separate $55M site loan from People’s Gas unpaid by Amazon.
Amazon is nearing a deal to acquire a 571,000 square foot vertical warehouse facility on Chicago’s Goose Island, a property that has been vacant since 2024, according to Bisnow citing Crain’s Chicago Business.
Bisnow reports the seller is in talks with Amazon to sell the multistory building at 1237 W. Division St, though the purchase price was not disclosed. The outlet says Amazon is expected to pay far less than the amount the developer paid to build the property.
Bisnow adds that Amazon is expected to cover the remainder of a $150M construction loan originated in 2022, while not covering $55M that Logistics took out to buy the site from People’s Gas, based on Bisnow’s account.
The same Chicago deal roundup also noted other regional transactions, including Sonica International’s $5.2M purchase of a 40,000 square foot Elk Grove Village industrial building and a local buyer’s $11.5M acquisition of a 78-unit apartment building in Chicago.