Highland Park Lists Karger Center For $3.5M

HIGHLAND PARK, IL — The Highland Park City Council has retained a commercial real estate broker to list the Karger Center for $3.5 million and advised current tenants they will need to relocate.

Due to escalating operating costs, the council approved an agreement with Millennium Properties to sell the 2.6 acre "rapidly aging" 1850 Green Bay Rd. site at its meeting Monday, according to a news release.

“We look forward to working closely with Millennium Properties as we seek a buyer for this well-located asset in the city,” said 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.”

The 1966 building was previously leased to the Park District of Highland Park, which used it as a recreation center until 2005. The property is zoned B4-5, which would allow for a new planned development of up to five stories.

“This process will be transparent and done with careful consideration and due diligence," said city manager Ghida Neukirch. "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.”

The Karger Center currently houses 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. The city said all tenants have been notified of the property's potential sale and will need to relocate.

The president of the day care has asked city officials for help securing an appropriate permanent space for its families, Pioneer Press reports. The city had previously pledged around $7 million to a plan to build a new community center at the site, but the plan fell apart when its partner, the Community Family Center, was unable to raise its part of the funding.

Millennium Properties listing broker and president Susan B. Silver is a Highland Park resident. Her firm has exclusive rights to try to sell the property for a year before the deal expires, under the terms of the agreement. The broker's commission will be 4.5 percent of the total gross sale price if Millennium is the sole broker and 5 percent if there is a cooperating broker.

The agreement notes that the city has already met with entities who are interested in buying the property. If they city ends up selling to one of them before the year is over, Millennium will be paid $15,000 plus a maximum $3,000 in expenses.

Any sale would not include the neighboring Firehouse youth center or the North Shore Health Center, the city said.

» via the City of Highland Park

Top photo | Highland Park City Hall | Patch file