Amazon, a U.S. e-commerce major, has acquired a new warehouse on the current site of a Central Steel & Wire factory, located on the Southwest Side of Chicago, for $35 million.
The company bought the Central Steel & Wire plant at 3000 W. 51st St. from Chicago-based steel company Ryerson Holding, which will lease back the property.
Amazon noted that the acquisition is part of its continued push into the city as it expands its distribution network to keep up with surging online sales and speed up delivery times.
Furthermore, Amazon is planning a delivery station on the site, with construction expected to begin in 2023 and launch in the next few years.