The City of Highland Park has decided to put the Karger Center Property (the Property), up for sale for potential redevelopment. A 2014 comprehensive assessment of City owned real estate identified the Property as rapidly aging with escalating operating costs, which are among key factors in the decision. At the regular meeting of the City Council on May 22, 2017, an agreement was approved with Millennium Properties Real Estate, Inc. (MPI), a commercial real estate company to list the 2.6 acre Property, located at 1850 Green Bay Road for $3.5M. MPI will list the property for revitalization or redevelopment in June 2017.
Millennium Properties was identified as one of the preferred firms following a previous comprehensive review and selection process. The qualifications included MPI’s proactive approach, comprehensive marketing plan, and broad base of resources.
“We look forward to working closely with Millennium Properties as we seek a buyer for this well-located asset in the city,” stated Mayor Nancy Rotering. “We are excited about the potential of a proposal that works within our vision for the area and best serves our community.”
City Manager Ghida Neukirch stated, “This process will be transparent and done with careful consideration and due diligence. As with any revitalization or redevelopment this property will require a public planning and design review as required by the City zoning and planned development process.”
For more than 20 years, Millennium Properties Real Estate has worked with individuals and institutions to sell, buy, manage and lease their portfolios. Listing broker Susan B. Silver has more than 20 years of experience in commercial brokerage, leasing, property management and financial analysis and serves as President for Millennium Properties, where she has completed more than 750 real estate transactions totaling more than $1 billion. Silver is a Highland Park resident.
The Karger Center was built in 1966 and was leased by the City to the Park District of Highland Park to serve as the recreation center until 2005. The building currently serves as a multi-tenant facility housing the Highland Park Community Nursery School and Day Care Center, Rhythmix Gymnastics Program, and a third space, which has historically been used by a theater company. All tenants have been notified of the potential sale of the property and will see relocation of their operations.
For more information on the Karger Center, please go to www.cityhpil.com/karger or call the City Manager’s Office at 847.926.1000. Those interested in making an offer on the property should contact Susan B. Silver, President of Millennium Properties Real Estate, Inc. at 312.338.3001.
FREQUENTLY ASKED QUESTIONS
When will Millennium Properties begin marketing the Karger Center Property?
It is anticipated that Millennium Properties will begin marketing the Karger Center property on June 1, 2017.
Why is the City considering the sale of Karger Center?
The City is considering the sale of Karger due to aging infrastructure and escalating operating costs to maintain the property.
Will the public have input into this project?
Yes. Any potential redevelopment proposals for the property will be transparent and subject to community input. This property will require a public planning and design review as required by the City’s zoning and planned development process, which will offer an opportunity for public input into the various stages of development.
What is the list price of the Karger Center Property?
The list price for the property is $3,500,000.
What will happen to the Lake County Health Department Facility?
The Lake County Health Department Facility will remain on site. Any proposed redevelopment of the Karger Center property will occur surrounding the facility. Redevelopment plans will be required to account for parking for the Health Department.
What will happen to the existing water tower?
The water tower will continue to be the City’s property and is not subject to sale or assignment to any third parties. Any development proposed for the Karger Center property will have to design around the water tower and not impact access in any way.
How will the Firehouse Youth Center be impacted?
The Firehouse Youth Center is on Park District of Highland Park property and is not included in the Karger Center property sale. The City is currently exploring a possible relocation of Youth Services from the Firehouse to an expanded Library facility and community campus development. More information on the library expansion project can be found at www.cityhpil.com/libraryexpansion.
What is the current zoning of the Property?
The property is zoned B4-5. A link to the City’s zoning map can be found by clicking here. Information on the City’s allowable uses by zoning district can be found by clicking here.
What type of redevelopment can occur on the Property?
In 2013, a Central Business District (CBD) land use and urban design study was done by The Lakota Group (Lakota Study). The boundaries of the study included the Property. The Lakota Study identified possible modifications to the City’s Zoning Code which spurred the City Council to adopt amendments to the Zoning Code allowing higher density development within the CBD as permitted under the B4-5 Zoning District. To view the Lakota Study, please click here.
Will redevelopment impact surrounding residential properties?
As plans for redevelopment are presented, the City will make sure consideration is given to the impact on surrounding residential properties. The City will ensure that all surrounding residential properties will be kept apprised of the sale status, redevelopment information, and any public hearing notices as required by law.
What are the City’s next steps in preparing for a possible expansion?
Regular updates will be posted on the City’s website at www.cityhpil.com/karger.
Who can I contact about this project?
If you have any questions or would like to provide feedback, please contact the City Manager’s Office at 847.926.1000 or email email@example.com.