John Deere purchases 234 acres of land in Northwest Indiana

LOWELL, Ind. — John Deere has purchased 234 acres of land in Northwest Indiana, according to a press release from Coldwell Banker Commercial Realty.

The bank’s release indicates the agriculture equipment manufacturing giant bought the parcel for $7 million. The bank reported that John Deere plans to build a 1.2-million-square-foot warehouse and distribution facility on the plot.

Coldwell Banker also indicated the future warehouse site is located in the 2100 block of West 181st Avenue near the Illinois-Indiana border in Lowell. When construction is completed, the facility will be longer than Chicago’s Willis Tower (formerly known as the Sears Tower) lying down on its side. The Willis tower is 1,729 feet tall.

Per a release, the complex is expected to generate 1,200 union construction jobs. The facility will also create 400-500 permanent positions upon completion, according to Coldwell Banker.

“We at the Lowell Chamber of Commerce are very excited for this business to be coming to the town of Lowell, Indiana,” president of the Lowell Chamber of Commerce Nancy Frigo said via release. “We look forward to having them here, as well as the positive economic impact for our community that will surely happen.

“South Lake County is ripe and ready to grow with this type of development, and provides easy access to the crossroads of America. The 234-acre parcel is positioned strategically at the southwest corner of I-65 south and Route 2, with more than 2,595 feet of road frontage on the former and more than 3,397 feet of road frontage on the latter. The prime location is minutes to major highways, the Illinois border, the Skyway to Chicago, Routes 30 and 231, and a new hospital that is currently under construction. The site has gas, sewer and water availability.”

Frigo represented the seller — Hallmark Construction Company — in John Deere’s land transaction. Venture One is the company that will develop the site.

Coldwell Banker announced John Deere’s acquisition of the land in Indiana just days after the company announced it would be laying workers off across the Midwest. According to reporting produced by Nexstar’s NewsNation and WHBF — FOX59 and CBS4’s affiliate in Rock Island, Illinois — John Deere laid off workers at facilities in East Moline, Illinois, and Davenport and Dubuque, Iowa. In total, John Deere laid off around 600 workers.

The company claimed the layoffs were necessary because there has been a reduction in demand for products produced at some of its facilities in Iowa and Illinois.

Per NewsNation, John Deere has lowered its full-year profit forecast twice because farmers have bought fewer machines than the company expected. John Deere cut its profit outlook to $7 billion after initially producing projections in the range of $7.75 billion to $8.25 billion.

According to NewsNation and the United States Department of Agriculture, net farm income is estimated to total $116.1 billion in 2024. That’s a 25.5% decrease from 2023.

NewsNation’s report indicates net farm income is falling because farmers are contending with lower prices for soybeans and corn.

Coldwell Banker’s press release did not include any statements from John Deere. As of this article’s publication, no additional details on the company’s Northwest Indiana project had been made publicly available.

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