Hernandez Development & XSITE Real Estate have successfully closed on a 6-acre parcel of land in Deer Park, Illinois, for a future Class A self-storage facility. The acquisition price for the site was $2,000,000. Deer Park will be the fourth self-storage property in Hernandez Development’s portfolio within the Chicago MSA, joining two operational facilities in Oswego and Bolingbrook, as well as a self-storage project currently under construction in Carol Stream.
Key Highlights:
- Location: 6-acre parcel adjacent to Deer Park Town Center and across from Kildeer Marketplace on Rand Road/U.S. 12, with over 44,900 vehicles passing daily.
- Purchase Price: The acquisition price for the site was $2,000,000.
- Development: The project will include a 123,000 sq ft climate-controlled self-storage facility, a 6,098 sq ft multi-tenant building with a drive-thru, and a dedicated drive-thru-only Scooter’s Coffee.
- Under-Supplied Market: With only 6.80 sq ft of self-storage per person in the area—below the national average of 8.52 sq ft—this market is currently undersupplied.
- Attractive Demographics: The demographic data in a 3-mile radius around the project site shows a robust population of over 70,000 people, with more than 27,000 households and approximately 18,500 families. The 3-mile radius around the development site shows a significant number of renter-occupied housing units of approximately 10,000.
- General Contractor: The project will be led by Hernandez Construction as the general contractor.
- Third Party Manager: Extra Space will serve as the third-party operator for this Class A facility.
About The Developer
This project results from a strategic partnership between two industry leaders: Hernandez Development, known for its extensive experience and expertise in self-storage development, and XSITE Real Estate, an Illinois-based retail leader.
Hernandez Development
Developer focusing on acquiring, developing, and managing Retail and Class A Self-Storage facilities in supply-constrained core commercial markets. Our team consists of highly skilled industry experts with over 25 years of experience, specializing in ground-up development, repositioning, and adaptive reuse projects.
XSITE Real Estate
A Burr Ridge, full-service commercial real estate firm XSITE Real Estate is an Illinois-based, comprehensive real estate firm that offers a complete range of services, including brokerage, acquisition, and development of commercial properties. With our vast industry knowledge, we excel at identifying the best opportunities for our clients. Strategically focusing on real estate development in the Midwest region, our nationwide network of brokers, tenants, and investors enables us to offer innovative solutions that are tailored to fit your specific real estate needs.
Media Contacts:
Melissa Lee – Marketing Manager
Email: melissa.lee@hernandez-group.com
Website: www.buildwithhernandez.com
For further information or to schedule an interview, please contact us. We appreciate your consideration and look forward to any coverage you may provide.
