Firm will invest over $130 million in historic facility to meet wholesale datacenter demand in Chicago market
CHICAGO, IL –September 16, 2015 - fifteenfortyseven Critical Systems Realty (1547), a leading developer and operator of custom-designed datacenters, announces the development of Midway Technology Centre, Chicago’s historic Schulze Baking Company building. The 230,000 sq ft hardened warehouse, a National Register of Historic Places building located on the South Side of Chicago, will be converted to house 100,000 sq ft of datacenter space. The new datacenter will address continued strong demand in the Chicago datacenter market.
The first phase of development will include 52,000 sq ft of datacenter space and 10 MW of power delivered from two separate substations. A total of 26 MW are available at Midway Technology Centre for the additional planned phases.
“We are excited to be entering the Chicago wholesale market as a vital part of the South Side revitalization plan,” states J. Todd Raymond, CEO and Managing Partner of 1547. “With an initial planned investment of over $130 million, this datacenter will provide the much needed capacity the Chicago market requires as well as jobs to the area.”
“The redevelopment of the South Side has been an important initiative for the City of Chicago,” states Ghian Foreman, Managing Partner of Midway Technology Centre. “1547’s plan to develop the Schulze Baking Company building brings new job opportunities and supports our growth efforts. We welcome 1547 and look forward to the advancements they will bring to our community from connectivity and workforce perspectives.”
“Downtown Chicago is one of the tightest markets for supply in the country,” adds Jim Kerrigan, Managing Principal at North American Data Centers. “This expansion by 1547 will allow for additional wholesale capacity in a constrained Downtown market.”
This expansion will grow the 1547 footprint to four cities in the United States with a total of over 500,000 sq ft of space under development.
To learn more about 1547, visit www.1547realty.com.
About fifteenfortyseven Critical Systems Realty
fifteenfortyseven Critical Systems Realty (1547) is a leading developer and operator of custom-designed datacenters. Formed by a group of experienced executives from the financial and datacenter industries, 1547 is investing in carefully selected datacenter properties. Together, the team has over 60 years of experience in operating, developing, and renovating datacenter space, along with extensive experience in performing exploratory market and feasibility due diligence studies. This wealth of experience allows 1547 to be well positioned to acquire, develop and operate strategically-located, custom built datacenter properties.
1547 is shaped by the team’s distinct but interrelated expertise, and has developed an extensive network of industry relationships. 1547 is building a unique and opportunistic portfolio of custom datacenters with a focus on the customer from concept through completion of each project. For more information, visit www.1547realty.com.
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