Construction is well underway on a new industrial development that is expected to create more than 100 jobs and generate over $1 million in taxes annually for Franklin Park.
Bridge Development Partners is in the process of building three speculative structures at 10601 Franklin Ave., a 48-acre property that previously housed 14 fuel tanks, according to the village.
The village board Monday approved a plat of subdivision for the property as part of the consent agenda. All members present voted in favor of the agenda. Mayor Barrett Pedersen and Trustee Karen Special were not in attendance.
The approval will allow the 10 lots that previously made up the property to be divided into three lots, one for each building, according to John Schneider, Franklin Park’s director of community development and zoning.
“We encourage people to consolidate lots,” he said.
The three structures will total 656,300 square feet, according to Schneider, who predicts occupants of the buildings will include a mix of shipping and manufacturing providers.
Bridge will offer space in sections as small as 40,000 square feet per tenant in order to accommodate a wide variety of businesses, according to Schneider. The development as a whole is projected to create at least 130 jobs.