Illinois Tool Works, a global diversified industrial manufacturer, has acquired the vast majority of the former Kraft campus in north suburban Glenview.
An affiliate of Hamilton Partners was involved in the acquisition of the site. The campus is just four miles southeast of ITW’s former location at 3600 W. Lake Ave., also in Glenview. Studley represented ITW in the site search and final transaction.
The land ITW bought from Kraft at the northwest corner of Golf and Waukegan roads includes 49 acres as well as two office buildings with 503,000 square feet combined. Kraft vacated the Glenview campus as part of the splitting of its grocery and snack businesses.
Rick Schuham, executive vice president and co-branch manager of Studley’s Chicago office, represented ITW in the transaction. Schuham was assisted by John Goodman and Eric Feinberg, also of Studley. Hamilton Partners was represented by Paul Sheridan in the transaction.
ITW, now more than a century old, always had headquarters in the Chicago area and had resided in the West Lake building since the 1980s. The West Lake Avenue property will be utilized by one of ITW’s businesses.