Simborg Development

What Simborg Development does

Simborg Development is a privately held, family-owned industrial and commercial real estate development firm headquartered in Homewood, Illinois, operating under "The Simborg Companies" umbrella through three wholly-owned entities: Simborg Development, Inc. (development), Simborg Industrial Real Estate, Inc. (sale and lease), and Simborg Commercial Real Estate LLC (retail and office development). Founded in 1972, the firm has developed over 100 industrial, retail, and office buildings totaling more than 30,000,000 SF across its history, and currently owns and manages more than 6,000,000 SF across approximately 50 buildings concentrated in the Chicagoland and Northwest Indiana markets, with selected project presence in Wisconsin, Florida, and California.

The firm offers full-service real estate development capabilities spanning site acquisition, project planning, financing, tax incentive procurement, construction, and design-build services, with particular expertise in real estate tax abatement and state/municipal assisted financing programs. Customer engagement is primarily direct enterprise field sales supplemented by a broker referral network and third-party listing portals; named customers include the U.S. General Services Administration (across multiple states for build-to-suit offices), Keebler/Kellogg, Union Carbide, Glenmark Industries/OSI, RNA Corporation, Bolzoni, SK Products, Zoll Foods, and Select Beverage, spanning food manufacturing, chemical manufacturing, distribution, and government end markets. Revenue is generated through development fees, construction management, property ownership (rental income from owned portfolio), and one-time property sale and lease transactions; no pricing tiers, fee structures, or financial figures are publicly disclosed.

The firm has no proprietary technology platform, no disclosed AI/ML capabilities, no API or software products, and operates with 11–50 employees. Its digital presence consists of a basic corporate website (copyright 2012) with limited content marketing, with property marketing augmented through PDF broker packets and listing portals such as KB Real Estate. Leadership is family-controlled: Bud Simborg serves as Chairman, Mitchell Simborg as President, supported by VP & General Counsel Philip L. Goldberg and VP Robert Hennessy.

Name

Simborg Development

Legal name

Simborg Development, Incorporated

Website

https://simborg.com

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

1–10 employees

Short description

Simborg Development is a privately held, family-owned industrial and commercial real estate developer in Homewood, Illinois, that has built over 100 buildings and 30,000,000 SF across Chicagoland, Northwest Indiana, and select other states since 1972, serving enterprise and government clients including the GSA, Keebler, and Union Carbide.

Ownership category

akta.pro rank

Headquarters

HQ city

Homewood

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales, Others

Revenue model

1. Industrial and Commercial Property Development: Full-service real estate development including site acquisition, project planning, financing, construction, and design-build services for industrial, retail, and office properties. Revenue is generated through development fees, construction management, and property ownership.
2. Property Sale and Lease: Sale and lease of industrial units and office space ranging from 1,500 to over 200,000 square feet throughout Chicagoland and Northwest Indiana. Revenue generated through property sales transactions and commercial lease agreements.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Simborg Development is a commercial real estate development firm that delivers full-service industrial, retail, and office property development, including site acquisition, project planning, financing, tax incentive structuring, construction, and design-build construction. The company also sells and leases industrial units and office space ranging from 1,500 to over 200,000 square feet throughout Chicagoland and Northwest Indiana, and develops retail and office properties through its subsidiary Simborg Commercial Real Estate, LLC.

Product overview

Simborg Development is a portfolio of three commercial real estate companies operating as a unified business: Simborg Development, Inc. handles industrial and commercial property development; Simborg Industrial Real Estate, Inc. manages the sale and lease of industrial units and office space (1,500 to 200,000+ square feet); and Simborg Commercial Real Estate, LLC develops retail and office properties. Together, the Simborg Companies provide a full range of real estate development services including site acquisition, project planning, financing, tax incentives, construction, and design-build construction, with over 40 years of experience in the Chicagoland area and Midwest. The portfolio includes properties across industrial, retail, and office segments, with the company having developed over 100 buildings and currently managing over 50 buildings comprising more than 6 million square feet.

Differentiator

Problem solved

Functional benefit

Products and services

• Simborg Industrial Real Estate - Sale and Lease of Industrial Units and Office Space Sale and lease of industrial units and office space (1,500 to 200,000+ SF) for industrial, manufacturing, distribution, and office tenants in the Chicagoland and Northwest Indiana markets, operated through Simborg Industrial Real Estate, Inc.
• Industrial and Commercial Property Development (Simborg Development, Inc.) Full-service real estate development for industrial and commercial properties, covering site acquisition, project planning, financing, tax incentives, construction, and design-build construction, delivered by Simborg Development, Inc. for business clients in the Midwest.
• Retail and Office Property Development (Simborg Commercial Real Estate, LLC) Development of retail and office properties in the Chicagoland area and Northwest Indiana, including multi-tenant retail centers and redevelopment of existing retail properties, delivered by Simborg Commercial Real Estate, LLC.
• Build-to-Suit Government Office Development (GSA) Design and construction of purpose-built office facilities for the U.S. General Services Administration (GSA), meeting federal specifications and coordinated permitting requirements, delivered across multiple U.S. states.

Quantifiable outcome

• Over 100 buildings developed in Chicagoland and Midwest across 40+ years
• +2 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Panattoni Development Company: The largest privately held industrial real estate developer in the United States, with significant activity across the Midwest including Illinois and Indiana. Panattoni is the most directly comparable peer to Simborg in terms of build-to-suit industrial and warehouse delivery, geographic overlap, and project scale ambition.
• NorthPoint Development: Privately held, full-service commercial real estate developer with a strong industrial platform and Midwest presence. Comparable to Simborg in industrial build-to-suit capability and operator-driven family-controlled ownership structure.
• Bridge Industrial: Chicago-based privately held industrial real estate operator that acquires, develops, and leases Class A industrial properties nationwide. Comparable to Simborg's industrial focus and Chicagoland origin; competes for the same pool of industrial tenants and build-to-suit mandates in the Chicago MSA.
• Becknell Industrial: Privately held industrial real estate developer and investor focused on build-to-suit and speculative industrial facilities across the Midwest. Directly comparable to Simborg in privately held industrial development, family/operator-led culture, and Midwest footprint.
• IDI Logistics: National privately held developer of logistics and distribution facilities with active Midwest operations. Mirrors Simborg's industrial/distribution customer segments and build-to-suit capabilities at a larger geographic and capital scale.
• Seefried Industrial Properties: Privately held industrial real estate firm that develops, owns, and leases industrial and warehouse properties across multiple U.S. markets. Comparable in privately held industrial ownership model and direct tenant relationships similar to Simborg's industrial portfolio.
• HSA Commercial Real Estate: Chicago-based commercial real estate development and investment firm focused on industrial, office, retail, and healthcare properties in the Midwest. Directly comparable to Simborg's regional Chicagoland focus and multi-product commercial development capabilities.

Broad incumbents

• Trammell Crow Company: Major diversified commercial real estate developer with industrial, office, and retail capabilities nationwide. Comparable as a broader incumbent offering the same build-to-suit services as Simborg but at greater scale and capital access.
• Opus Group: Diversified commercial real estate developer of office, industrial, residential, and institutional properties with Midwest roots. Comparable to Simborg's multi-vertical development model and decades-long Midwest operating history.
• Prologis: Global industrial REIT (formed via the Duke Realty merger) and the largest industrial landlord globally. Comparable in industrial tenant segments and Chicagoland footprint but operates as an institutional incumbent with materially larger capital base than Simborg.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Simborg Development