Bridge Industrial, the developer behind a proposal to convert Baxter International’s Deerfield headquarters into an industrial park, has withdrawn its petition. Bridge notified the Village of Deerfield that it had pulled the plan for a 101-acre site between Saunders Road and Interstate 94/294, north of Lake Cook Road. The company sought to annex the corporate campus and create warehouses totaling more than 1.1 million square feet.
The withdrawal comes just one day before Bridge was due to face homeowners at a village commission meeting who had expressed concerns about traffic issues as well as an increase in Deerfield property taxes estimated at $3.2 million in 2027 compared with $584,000 in 2021 if approved by local authorities.
It is unclear whether or not Bridge will pursue this project without annexation from Deerfield; however should it no longer be viable then this may mark an end for their agreement to purchase said campus from Baxter for approximately $90 million dollars .
The post Industrial Park Plans: Bridge Industrial Scraps Recycling appeared first on CRE MarketBeat.
