Baxter Retains JLL to Sell the Pharma Giant’s North Suburban Chicago Headquarters Campus
Pharmaceutical giant Baxter International has put its north suburban Chicago headquarters up for sale and is searching for a new headquarters, one of just many companies that are rethinking their real estate needs in the wake of the pandemic, according to Crain’s Chicago Business.
JLL has been retained by Baxter to sell the huge 101 acre campus at 1 Baxter Parkway in Deerfield, IL. It’s a move that could lead to a big redevelopment of a suburban corporate campus in a place the medical products giant has had its headquarters in for many years.
Vestian, a commercial real estate services concern that specializes in representing real estate occupiers exclusively, has been saying for some time now that most large companies have traditionally had 30% to 50% too much real estate, and that this inefficiency has become glaringly apparent post COVID as hybrid remote/office work schedules become increasingly ubiquitous.
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