Industrial has remained a hot asset class this cycle, particularly driven by the rise of e-commerce. That shows little sign of slowing down, and several Chicagoland Opportunity Zone
tracts have an industrial past with underutilized older buildings looking for new life. Investment activity in these areas could bring a lot of sorely needed jobs to struggling areas. When revitalized and new industrial buildings create employment opportunities, that in turn can create more demand for multifamily housing and retail, which is the ultimate goal of the Tax Cuts and Jobs Act (TCJA) program.
Some of the tracts poised well to benefit from additional industrial investment include those overlapping the Kinzie Corridor, Schiller Park, Pullman and Back of the Yards. Visit the Chicagoland Opportunity Zone map to view the Opportunity Zone tracts.