John Deere acquires land for massive warehouse facility near Lowell
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Agricultural equipment manufacturer John Deere is planning to build a 1.2 million-square-foot warehouse near Lowell in Lake County.
Coldwell Banker Commercial Realty announced Monday that the company paid $7 million to acquire a 234-acre plot of land near Interstate 65 and State Road 2 that will be home to one of the county’s largest buildings.
Our partners at The Times of Northwest Indiana report John Deere will invest more than $125 million to develop the facility, which will serve as the company’s Midwestern distribution hub.
The warehouse will be developed by Rosemont, Illinois-based Venture One, which said the facility will be longer than Chicago’s Willis Tower laying down on its side.
“We at the Lowell Chamber of Commerce are very excited for this business to be coming to the town of Lowell,” said Nancy Frigo, president of the Lowell Chamber of Commerce and leader of the development team for Hallmark Construction. “We look forward to having them here, as well as the positive economic impact for our community that will surely happen. South Lake County is ripe and ready to grow with this type of development, and provides easy access to the crossroads of America.”
Coldwell Banker said the facility will create 400 to 500 full-time jobs when complete, in addition to 1,200 union construction jobs.
A timeline for construction was not immediately provided. The Times previously reported that a site development plan must still be approved.
Requests for more information from Inside INdiana Business were not returned Monday.
The announcement of the Lowell facility came on the same day that John Deere announced it would lay off nearly 600 workers from three locations in Iowa and Illinois. The company cited declining demand in its decision.