After a recent bidding war on real estate online auction platform, Ten-X, Optima Ventures LLC‘s Midwest Corporate Campus in Harvard, Illinois sold for $9.3 million to an undisclosed individual investor.
Bidding began at $2.7 million for the campus, which was originally built in 1997 to serve as Motorola‘s headquarters and distribution campus. The 1.5 million-square-foot property has been vacant since 2003.
The 325-acre property, located roughly two hours from Chicago and Milwaukee at2001 N. Division St., is comprised of four buildings: a 619,590-square-foot, two-story manufacturing building (formerly used for meticulous cellular phone assembly); a 355,315-square-foot distribution building; a 407,347-square-foot, five-story Class A office building; and a 165,605-square-foot, two-story central services building.
Another 63,000 square feet of high-base warehouse space with a 15,140-pallet storage capacity is also included, as well as an integrated tote/carton conveyor system connecting the manufacturing and distribution buildings.
Amenities on site include two on-site daycare facilities, a 1,100-capacity cafeteria, rooftop and ground-level heliports, fitness center with dance room, and a 500-person auditorium. Onsite finishes include ponds and trails for running and biking. A portion of the asset’s acreage also is open to additional development opportunities. Parking includes 7,000 surface spaces and 28 underground executive spaces.
Optima Ventures, LLC is the seller. Mark Kolar of Jones Lang LaSalle is teamed with Mark Carbone and Terry Rochford of Ten-X to sell the asset.