City Selects $23.7M Industrial Development for New City Site

The project will create up to 120 permanent jobs in the Stockyards Industrial Corridor.

Mar. 18, 2026 at 2:00pm

Got story updates? Submit your updates here. ›

The Chicago Department of Planning and Development has announced the selection of a $23.7 million industrial development project in response to its New City RFQ. The 126,360-square-foot building will be located at 1924 W. 46th Street and is expected to create up to 120 permanent jobs when fully leased.

Why it matters

The site's location in the Stockyards Industrial Corridor prompted the city to prioritize development teams that could leverage the site's potential for new jobs on behalf of nearby residents. The proposed project aligns with the city's goals to promote sustainable construction and assess the traffic and air quality impacts of new industrial developments.

The details

Planned by the Missner Group and Cabrera Capital, the industrial building will include substantial landscaping along the Wolcott Avenue and 46th Street frontages. As a speculative development involving city land, the proposal requires compliance with the City's Sustainable Development Policy and Air Quality Ordinance. A Planned Development zoning designation is also required. The proposed purchase price is the property's market value of $3.3 million.

  • The Department of Planning and Development announced the selection on March 18, 2026.

The players

Department of Planning and Development

The city agency responsible for overseeing the New City RFQ and selecting the industrial development project.

Missner Group

The development team planning the $23.7 million industrial building.

Cabrera Capital

The development team planning the $23.7 million industrial building.

Got photos? Submit your photos here. ›

What they’re saying

“Given the location in the Stockyards Industrial Corridor, the RFQ prioritized development teams that could leverage the site's potential for new jobs on behalf of nearby residents.”

— Commissioner Boatright

What’s next

The proposed project will now need to go through the city's Planned Development zoning process, which includes compliance with the Sustainable Development Policy and Air Quality Ordinance.

The takeaway

This industrial development project represents the city's efforts to spur job creation in the Stockyards Industrial Corridor while also prioritizing sustainable construction and mitigating the environmental impacts of new industrial development.