USA, IL: Phase Three Brewing Co. to open second Chicago-area location
A three-year-old Illinois-based brewery plans to open a second Chicago-area location by the fourth quarter of 2022, the Chicago Business Journal reported on May 13.
Phase Three Brewing Co. signed a long-term lease to occupy 3,600 square feet at 492–494 S. Spring Road in Elmhurst, Illinois, according to Paul Montes, senior vice president with Inland Commercial Brokerage, who represented Phase Three Brewing along with colleague Eric Spiess.
The brewery now plans to redevelop the former bicycle shop into a taproom, which will include outdoor space.
“Design work and permitting have begun, and construction will begin as soon as permits are provided,” Montes told the Chicago Business Journal.
He added that Phase Three Brewing chose the site in part because of its close proximity to Chicago and “position in central DuPage County,” where the “demographics align with their customers. It is a unique building located on the Illinois Prairie Path, and is a walkable neighborhood to restaurants.”
Montes said that investors have a big appetite for properties located along the I-80, I-39 and I-55 corridors where land prices are less expensive.
“I see a continuation of demand [from investors] for infill sites with existing infrastructure and those with interstate access,” he said.
Based in Lake Zurich, Illinois, Phase Three Brewing also occupies a 28,000-square-foot microbrewery and production facility as well as a 2,500-square-foot taproom it moved into after Lake Zurich Brewing vacated in 2020.
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