According to Alter Group senior vice president Patrick Gallagher, each building is being developed on a speculative basis (meaning no tenants have committed to occupy any of the space). They will also be the first new industrial properties that Alter Group has developed in the Chicago area in years. Gallagher says that the Lake Center Corporate Park will be the first of many new Chicago area projects, however. Ground will be broken on both projects in May. Both will be completed by early 2008, according to the Alter Group.