More than a decade after it was first approved, a giant mixed-use development in northwest suburban Grayslake is finally underway.
Medline Industries agreed to be the first tenant at Cornerstone, a 641-acre site at Peterson Road and Route 83. The Northfield, Illinois-based manufacturer and distributor of medical supplies will occupy a 1.4M SF warehouse now under construction by The Alter Group, Cornerstone’s developer.
Alter officials said they plan to create about 3M SF of light industrial, research and office space over the next 12 years in multiple phases at the $750M Cornerstone project. The first phase will be built on a 310-acre parcel…