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Chicago & Midwest  |  November 12, 2019
Paul Bubny
By: Paul Bubny

Nokia’s Naperville Campus Heads for Redevelopment

Nokia plans to sell its 175-acre campus in Naperville, IL and lease back the space it occupies at 2000 Lucent Ln. The Nokia property could soon be sold to Lincoln Property Company (LPC), subdivided for multi-tenant use and a portion sold for residential development, according to the Chicago Tribune.

The 67.6-acre lot on the north side of the property would be sold for future residential development. According to city documents, LPC is under contract to sell Lot 4 to Pulte Home Corporation for residential development. An out lot will continue to be used for stormwater management, the Tribune reported.

Nokia and its predecessor Alcatel-Lucent and Bell Labs have occupied the north Naperville site since 1965, said Tom Gorman, SVP with Colliers International, on behalf of Nokia.

At its peak, Nokia employed about 12,000 people in Naperville, and it has consolidated operations in the 2000 Lucent Ln. building, the Tribune reported.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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