WBEZ | libertyville http://www.wbez.org/tags/libertyville Latest from WBEZ Chicago Public Radio en Google puts up Libertyville Motorola campus for sale http://www.wbez.org/news/google-puts-libertyville-motorola-campus-sale-104713 <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/flickr_titanas.jpg" alt="" /><p><p>Now that the former headquarters of Motorola Mobility in Libertyville is <a href="http://www.binswanger.com/Resource-Center/Media-Center/Press-Releases/Press-Releases/271/month--201301/vobid--10818/">up for sale</a>, who&rsquo;s likely to buy it?</p><p>Before we think about it - consider first that the most recent vacancy rate for similar office space in Libertyville is 28.7 percent - almost twice as high as in the city.</p><p>That&rsquo;s before you take into the account the Motorola Mobility campus in Libertyville. It sits on 84 acres and is more than a million square feet of office space. To give you an idea of the size, the Merchandise Mart - where the workers <a href="http://articles.chicagotribune.com/2012-07-26/business/chi-motorola-mobility-leaving-libertyville-for-downtown-chicago-20120726_1_motorola-mobility-kevin-willer-lightbank">are moving</a> - is four times that size.</p><p>&quot;If in fact this building were to be added to the competitive market it would add approximately 10 percent to the total inventory in that area,&quot; said <a href="http://www.joneslanglasalle-chicago-forecast2013-website-registration.com/#!robert-kramp/c1o7g">Robert Kramp</a>, who directs regional research for the Great Lakes for Jones Lang LaSalle, the commercial real estate services firm.</p><p>Bult in 1992, the property is really designed as a corporate headquarters. It has 3400 parking spaces. But Kramp thinks convincing a company to move or expand to Illinois right will be a tough sell.</p><p>&quot;Given the challenges that currently face the state of Illinois in addition the fact that the economy has barely begun to recover - not withstanding the uncertainty that is still associated with the federal budget impasse - it will be a very challenging market for this particular property,&quot; Kramp said.</p><p><a href="http://www.libertyville.com/index.aspx?nid=54">Libertyville Mayor Terry Weppler</a> says the state has already committed to helping find potential tenants.</p><p>&quot;I would prefer that there were multiple tenants,&quot; Weppler said, adding that it would lessen the chance of another big company coming in and then leaving.</p></p> Fri, 04 Jan 2013 14:57:00 -0600 http://www.wbez.org/news/google-puts-libertyville-motorola-campus-sale-104713