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General Iron Moving to SE Side, Selling North Branch Site
Metal recycling company General Iron Industries is entering a strategic partnership with electronics recycler Reserve Management Group, and moving its operations to RMG’s current location on the southeast side of Chicago. In turn, General Iron is putting its current location, representing 21.5 acres in the now-covered North Branch Industrial Corridor, up for sale, hiring JLL to market the site.
The combined venture will build a new facility at RMG’s Chicago location, which covers more than 175 buffered acres along the east side of the Calumet River, at South Burley Avenue and 116th Street. The transition, including construction of an enclosed, high-tech metal shredder, is expected to be completed in 2020.
“General Iron looks forward to the next steps in the transition of the business to a new state-of-the-art facility in a new Chicago location, while ensuring continuity of this critical service of recycling for the city,” said president Marilyn Labkon.
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- ◦Sale/Acquisition
