Michelin North America Acquires 2M SF Illinois Distribution Center for $151M

Michelin North America has completed the acquisition of its 2M SF super regional distribution facility located at 29900 S. Graaskamp Blvd. in Wilmington, Illinois, for $151M. The property, which Michelin has occupied since 2015, was purchased from a partnership between Silver Creek Development and GFH Partners.

The previous owners had acquired the asset in 2021 for $126M from Transwestern Investment Group. During their ownership, Silver Creek Development and GFH Partners expanded trailer parking and secured an early lease extension with Michelin, which was set to expire in November 2027. This facility is crucial for Michelin, handling 35% of its imported inventory and serving dealers and automakers across the Midwest and West. The site is situated within Elion Logistics Park 55, a 2,500-acre development in Will County, approximately 60 miles south of downtown Chicago. This transaction underscores a strong industrial market in the Chicago metro area, which saw 48.7M SF sold in the first three quarters of 2026, a 72% increase year-over-year. For developers and investors, this deal highlights the value of mission-critical industrial assets and the robust demand in key logistics hubs.