Compound in that place with base raised (5)
I believe the answer is:
ether
'compound' is the definition.
(chemical compound)
'that place with base raised' is the wordplay.
'that place' becomes 'ethe' (I can't justify this - if you can you should believe this answer much more).
'with' is a charade indicator (letters next to each other).
'base' says to take the initial letters (I've seen 'base of' mean this).
The first letter of 'raised' is 'r'.
'ethe'+'r'='ETHER'
'in' is the link.
Can you help me to learn more?
(Other definitions for ether that I've seen before include "Clear upper air" , "Chemical solvent" , "Highly flammable liquid once used as an anaesthetic" , "Gas - air - space" , "Solvent; clear sky (poet.)" .)