Bloomberg News

Google’s Motorola Mobility to Sell Chicago-Area Offices

January 03, 2013

Motorola Mobility Holdings Inc., the mobile-phone maker bought by Google Inc. (GOOG:US) in May, put its headquarters complex in suburban Chicago on the market after agreeing to relocate downtown.

Binswanger, a Philadelphia-based commercial-property brokerage, was hired to sell the four-building, 1.1 million- square-foot (102,000-square-meter) property in Libertyville, Illinois, according to a statement today on the real estate firm’s website.

Binswanger is marketing the 84-acre (33-hectare) campus to companies in a number of industries, including finance and education, according to the statement. The four connected buildings have office, lab and distribution space as well as a day-care center, full-service cafeteria and a gym. The asking price hasn’t been set, said Laurie Goldstein, vice president of marketing for the brokerage.

Motorola Mobility agreed in July to relocate to Vornado Realty Trust (VNO:US)’s Merchandise Mart in Chicago. It will be the building’s largest tenant, occupying almost 600,000 square feet on the top four floors and rooftop, according to a July statement from Motorola Mobility and Chicago Mayor Rahm Emanuel.

The 4.2 million-square-foot Merchandise Mart, completed in 1930, is the world’s biggest commercial building, according to its website. Motorola Mobility plans to move to its new offices by mid-2013, it said when the deal was announced.

A telephone message left with Jennifer Erickson of Motorola Mobility wasn’t immediately returned.

To contact the reporter on this story: Brian Louis in Chicago at blouis1@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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Companies Mentioned

  • GOOG
    (Google Inc)
    • $537.5 USD
    • 2.67
    • 0.5%
  • VNO
    (Vornado Realty Trust)
    • $110.6 USD
    • 1.52
    • 1.37%
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