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Long-Planned Suburban Mega-Project Signs First Tenant
Medline Industries will be the first tenant at the Alter Group’s long-planned Cornerstone, a $750-million, 641-acre mixed-use development in Grayslake, IL. The project’s inaugural facility will be a LEED-certified 1.4-million-square-foot facility for Medline, which will be the fifth-largest warehouse in the world.
“This innovative development in central Lake County will be one of the largest master-planned projects in the United States,” said Michael Alter, president of Alter.
Noting that the area has become “a hub for biotech, pharmaceutical, and packaged goods industries,” Alter said the project “will leverage the growth of Northern Cook and Lake counties to be a powerful revenue generator for local and county governments and schools throughout the life of the development.”
The MXU will include approximately three million square feet of light industrial, research-and-development and office space. Cornerstone will be built over 12 years in multiple phases.
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