Aligned has acquired an office property in the Elk Grove area of Chicago, Illinois. It’s unclear at this point whether the company aims to convert the CitiBank-occupied building into a data center.
Citing Cook County public records, the Real Deal reports Aligned was the buyer of 50 Northwest Point Boulevard in Elk Grove Village in March.
Franklin Street Properties announced the sale last month, but didn’t disclose the buyer. The 177,000-square-foot (16,450 sqm) office building, built around 2000 and sat on 10 acres, sold for $29.1 million.
At the announcement of the sale, Franklin Street CEO George J. Carter said: “We are pleased to announce the completion of the sale of the Property. We intend to use proceeds from the sale of the Property primarily for debt reduction.”
TRD notes the five-story office building was fully leased to Citicorp Credit Services and software developer NCS Pearson at the end of 2022, according to Franklin Street’s SEC filings, but it’s unknown when those leases end. Citicorp has been a major tenant in the building since 2006.
It’s unclear whether Aligned aims to develop a data center on the site. But Chicago is a major data center market, with many campuses concentrated in the Elk Grove area.
Aligned didn’t reply to TRD’s request for comment. DCD has reached out to the company for more information.
The company currently operates an 18.5-acre Chicago campus south of O’Hare Airport in the Northlake area of Illinois. It broke ground on the first building in April 2021 and began work on the second the following April.
ORD-01 offers 220,000 square feet (20,450 sqm) of space and 48MW of capacity (expandable to 60MW). ORD-02 will offer around 300,000 sq ft (27,900 sqm) and 40MW of capacity.