Intermodal Logistics Centers and Their Impact on Transportation Corridor Industrial Property Value

Every year, the interchange of millions of tons of intermodal freight from all regions of the United States takes place in metropolitan Chicago. The high volumes of freight along with projections of highly congested highway systems suggest Illinois' need for an efficient intermodal system to accommodate the complex interchange of freight. This research investigates the economic impacts of the implementation of intermodal logistics centers (ILCs) for freight transportation. Industrial property along transportation corridors and interstate interchanges may see significant property value changes and spatial changes related to ILCs. With the use of publically available tax assessment, truck volume and census data, the research analyzes patterns and property value changes of industrial property between 2002 and 2007. This research looks to provide freight companies that utilize intermodal logistic centers with a better understanding of economic impacts of freight transportation in the surrounding region. In addition, this research will allow planning agencies and communities to better plan for freight.