Baxter International plans to sell 101-acre campus near Deerfield
Baxter International is putting its 47-year-old, 101-acre campus near Deerfield on the market in response to a greater reliance on employees working remotely.
"Workplace dynamics are changing, with Baxter offering and many employees choosing a hybrid work model consisting of both days working remote and days in the office," the company said in a statement about the planned sale. "To best meet the evolving needs of our employees, Baxter is reviewing options related to our current headquarters - which was designed and built in the 1970s - and will pursue options for a new modern and more sustainable headquarters."
Located in the North suburbs since 1931, the company said it will look for office space in the same general area to remain accessible to employees.
David Fitzgerald-Sullivan, management analyst for the village of Deerfield, clarified that the company's "Deerfield headquarters" are not within the village limits but under Lake County's jurisdiction.
Nevertheless, Fitzgerald-Sullivan said the village is happy the company wants to remain in the area, which he said reflects the strength of the Lake County workforce and would benefit Deerfield residents who work for Baxter.
"Lake County is a great place to locate," Fitzgerald-Sullivan said.
Lake County Board Chair Sandy Hart released a statement regarding Baxter's announcement and the role the county might play in the Deerfield-area site's future.
"We are glad that Baxter is committed to retaining its headquarters in the area as a valued Lake County employer and worldwide health care leader," Hart said. "Regarding future use of the property, we will continue to evaluate as more information becomes available."
Apart from its headquarters, Baxter also has office, research and development, and manufacturing space in Round Lake, and a flex office in Chicago.
According to the company's website, it was in 1931 that physicians Ralph Falk and Don Baxter launched the Don Baxter Intravenous Products Corp. as the first commercial manufacturer of prepared IV solutions.
Shortly afterward, the company introduced the Transfuso-Vac container for blood collection that made blood banking practical by allowing for storage of up to 21 days.
By the end of the 1930s, the company had become Baxter Laboratories Inc. and opened a manufacturing facility in a renovated automobile showroom in Glenview.
Baxter went international in 1954 with the opening of an office in Belgium, joined the Fortune 500 list in 1971, and moved into its current Deerfield-area headquarters in 1975.
Baxter has hired Jones Lang LaSalle to list the Deerfield headquarters property.
The possible sale of the campus joins many large suburban corporate campus sales in recent years, some of which have already led or are leading to redevelopments. New building is underway at Motorola Solutions' former Schaumburg site, and new tenants are filling spots in AT&T's former Hoffman Estates campus.
Allstate this year reached a deal to sell its campus near Northbrook, and the former Sears campus in Hoffman Estates is on the market.