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Union Pacific Railroad recently hired real-estate development and investment firm CenterPoint Properties Trust to manage construction of its $181 million, 1,230-acre intermodal terminal in Rochelle, Ill.
Park Ridge, Ill.-based Ragnar Benson Inc., the project's general contractor, in late 2001 began site work for the facility, which will be completed in two phases.
Under the project's first phase, UP is developing 750 acres to create a 1,000-container-per-day capacity terminal to increase the railroad's Chicago-area capacity. The second phase — for which a construction schedule hasn't been determined — would further increase the terminal's capacity.
CenterPoint Properties plans to work with UP, the city of Rochelle, the area's Department of Commerce and Community Affairs and Illinois Department of Transportation to secure funds to improve Illinois Route 251, and build an intersection and road to connect the terminal, according to a statement prepared April 8.