CHICAGO – Newcastle Limited has been retained to represent Deerfield, IL-based Baxter International Inc. (NYSE: BAX) to conduct a sealed-bid offering for the disposition of a 70-acre prime development site in Lake County, announced Michael R. Haney, President of Chicago-based Newcastle Limited, a national real estate advisory and development firm serving corporations, not-for-profit organizations, institutions, investors, and governmental agencies.
“This is one of the largest undeveloped parcels of land between O’Hare International Airport and Route 60 in unincorporated Lake County and one of the most attractive and desirable sites in the Chicago metropolitan area,” said Haney. Deadline for offers is Wednesday, November 27 of this year.
The property is adjacent to Baxter’s 650,000 SF World Headquarters facility, 22 miles north of Chicago’s Central Business District and 12 miles north of O’Hare International Airport. It is strategically located in West Deerfield Township at the northeast corner of Lake-Cook and Saunders Roads, just west of a major four-way interchange with immediate access to I-94 and to I-294, I-90 and I-294. The site has excellent frontage and visibility along Lake-Cook Road, I-94, and Saunders Road.
“Zoned for office and commercial development, this site is ideal for a potential 1,600,000 SF first-class, mixed-use project in either Lake County or the Village of Deerfield,” said Haney whose firm recently represented the Eleanor Women’s Foundation in a sealed-bid disposition of its property at 1550 North Dearborn to The Latin School of Chicago and represented Loyola University Chicago in the disposition of its 17-acre Mallinckrodt Campus to the Wilmette Park District.“In order to focus its attention and resources on its core mission, Baxter has made the decision to divest underutilized, excess real estate assets, which include the sale of this property adjacent to their world headquarters,” he said.
About Newcastle Limited
Chicago-based Newcastle Limited is a national commercial real estate firm serving governmental agencies, institutions, not-for-profit organizations, corporations and private investors. The firm’s strategic advisory, development and investment services are designed to reduce project risk and maximize asset value. To learn more about Newcastle, call Mike Haney at (312) 683-3113 or visit the company website at www.newcastlelimited.com.