November 15, 2002
Newcastle Limited Represents Baxter International in Sealed-Bid Offering for a Prime 70-Acre Development Site in Lake County.
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.
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