NORTHBROOK, Ill.--()--Hilco Real Estate, LLC announced today that they have been engaged to sell approximately 660 acres that includes the unfinished Marble Hill nuclear power plant in Jefferson County, Indiana. Working in conjunction with Bill Brennan of Lee & Associates out of Indianapolis, Hilco plans to run an accelerated sales process to auction the property immediately. Hilco will accept bids on or before the November 8th deadline with the expectation to close by year-end.
The original development of the site began in the mid-1970s but was halted in 1984 when the Public Service Company of Indiana (now Duke Energy) abandoned the project. At one point the site employed nearly 8,000. Over past few years, Bloomfield Hills, Michigan based, MCM Management has been demolishing the remaining improvements.
The site consists of approximately 250 acres of graveled land, approximately 210 acres of timberland, 2,500 feet of frontage along the Ohio River, an 8 MGD water pump house, and numerous infrastructure improvements still in-place. The property sits approximately 400 feet above the river and has a 3 million gallon retention pond still on site. Marble Hill got its namesake because the limestone beneath the surface reminded past settlers of Italian white marble.
The site has also been zoned as a Redevelopment District and holds Foreign Trade Zone status.
For more information on this property and details on the auction sale, visit www.hilcorealestate.com/marblehill or call 847.849.2939.
About Hilco’s Real Estate Group
Hilco’s real estate group helps businesses improve leverage and cash flow by repositioning and restructuring their real estate commitments to optimize value in the shortest period of time. Core competencies include strategic advisory and consulting services, owned portfolio disposition, lease portfolio sales/assignments, lease termination, lease renegotiation, leasing/subleasing, sale of non-core owned assets, sale/leaseback transactions, and appraisals for leased and owned assets. Hilco is headquartered in Northbrook, IL. For more information on real estate solutions, please visit www.hilcorealestate.com.