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Motorola Makes Another Push to Sell Four-Building Campus

HARVARD, IL-Market value of the 1.5-million-sf office and industrial campus on 300 acres has dropped by nearly half to $32.2 million, according to its most recent property tax assessment, and a fraction of its replacement value.

By Mark Ruda | Updated on September 14, 2005

HARVARD, IL-Motorola Inc. is taking a different tack to selling its former cellular phone manufacturing campus in this far northwest suburb. The electronics company has hired Jones Lang LaSalle, which will conduct a sealed-bid auction in hopes of landing a buyer for the four-building, 1.5-million-sf campus on 300 acres.

Bids are due late next month for the campus, and Motorola is looking to close by the end of the year, says Jones Lang LaSalle managing director Guy Ponticiello. “Certainly an end-user in a high-tech manufacturing field could be an ideal buyer, but there are also a lot of possibilities for investors as well as buyers with alternative uses in mind,” Ponticiello says. “We plan to cast a very wide net in marketing the property, and expect to see a variety of bids in the coming weeks.”

Although he considers high-tech manufacturing to be the property’s highest and best use, Ponticiello adds residential redevelopment is a leading alternative. A local developer had proposed a $10-million water park, and retail redevelopment also has been mentioned. “Everything is open, and possible,” Ponticiello tells GlobeSt.com.

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