{"id":8125,"date":"2025-01-21T12:06:12","date_gmt":"2025-01-21T12:06:12","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=8125"},"modified":"2025-01-30T10:41:49","modified_gmt":"2025-01-30T10:41:49","slug":"major-developer-closes-on-land-for-class-a-self-storage-in-deer-park-il","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/major-developer-closes-on-land-for-class-a-self-storage-in-deer-park-il\/","title":{"rendered":"Major Developer Closes on Land for Class A Self-Storage in Deer Park, IL"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\" wp-image-8126 aligncenter\" src=\"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2025\/01\/Deer-Park-Rendering-2-Used-scaled.jpg\" alt=\"\" width=\"701\" height=\"394\" srcset=\"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2025\/01\/Deer-Park-Rendering-2-Used-scaled.jpg 2560w, https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2025\/01\/Deer-Park-Rendering-2-Used-500x280.jpg 500w, https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2025\/01\/Deer-Park-Rendering-2-Used-1536x864.jpg 1536w, https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2025\/01\/Deer-Park-Rendering-2-Used-2048x1152.jpg 2048w\" sizes=\"(max-width: 701px) 100vw, 701px\" \/><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Hernandez Development &amp; 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\u2019s 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.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Key Highlights:<\/span><\/span><\/b><\/span><\/p>\n<ul>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Location:<\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"> 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.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Purchase Price: <\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">The acquisition price for the site was $2,000,000.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Development:<\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"> 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\u2019s Coffee.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Under-Supplied Market: <\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">With only 6.80 sq ft of self-storage per person in the area\u2014below the national average of 8.52 sq ft\u2014this market is currently undersupplied.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Attractive Demographics:<\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"> 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.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">General Contractor: <\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">The project will be led by Hernandez Construction as the general contractor.<\/span><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Third Party Manager: <\/span><\/span><\/b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Extra Space will serve as the third-party operator for this Class A facility.<\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">About The Developer<\/span><\/span><\/b><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">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.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Hernandez Development<\/span><\/span><\/b><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">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.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">XSITE Real Estate<\/span><\/span><\/b><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">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.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><i><u>Media Contacts<\/u><\/i><\/span><\/span><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">:<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><b>Melissa Lee<\/b><\/span><\/span><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"> \u2013 <\/span><\/span><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><i>Marketing Manager<br \/>\n<\/i><\/span><\/span><\/span><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Email: <\/span><\/span><a href=\"mailto:melissa.lee@hernandez-group.com\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><u><b>melissa.lee@hernandez-group.com<\/b><\/u><\/span><\/span><\/a><br \/>\n<\/span><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Website: <\/span><\/span><a href=\"http:\/\/www.buildwithhernandez.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><u><b>www.buildwithhernandez.com<\/b><\/u><\/span><\/span><\/a><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">For further information or to schedule an interview, please contact us. We appreciate your <\/span><\/span><\/span><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">consideration and look forward to any coverage you may provide.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hernandez Development &amp; 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\u2019s 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,&hellip;<\/p>\n","protected":false},"author":13,"featured_media":8127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[56],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/8125"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=8125"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/8125\/revisions"}],"predecessor-version":[{"id":8128,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/8125\/revisions\/8128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/8127"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=8125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=8125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=8125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}