LIBERTYVILLE, IL—The cell phone/tablet spinoff Motorola Mobility has hired Philadelphia-based Binswanger to find a buyer for its 1.1-million-sq.-ft. former headquarters here.
Motorola split into two companies in January 2011. This past summer, Mobility agreed to lease about 600,000 sq. ft. at the Merchandise Mart in, while Motorola Solutions, which handles the remaining sections of the technology company, agreed in early 2012 to lease space at the Santa Fe building in downtown Chicago as well as remain at its Schaumburg, Ill. headquarters.
The building here, on 84 acres, was built in 1992. The complex consists of four connected, multi-story buildings which house, lab, prototype (50,000 sq. ft.), distribution (60,000 sq. ft.), daycare center, modern full-service cafeteria, full-service gym and other recreational facilities.
The property is about three miles west of Interstate 294, south of the intersection of routes 137 and 45, in an area known for many flex research andfirms, mostly to do with healthcare. In a statement, Binswanger said it is marketing the property to a variety of users in industries including information; finance and insurance; professional/scientific/technical services; management of companies/enterprises; educational services; health care/social assistance; and public administration. The company did not comment on what price would be sought for the complex.