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JV Lands 52,975-SF Tenant to Old Orchard Towers

SKOKIE, IL-The lease health care information and consulting firm Sg2 brings occupancy at the 350,559-sf redeveloped property to 44%, with National Louis University the only other tenant.

By Mark Ruda | Updated on September 07, 2005

SKOKIE, IL-Health care information and consulting firm Sg2 has signed a 52,975-sf, 10-year lease at Old Orchard Towers, the second tenant landed by new owners Lowe Real Estate Enterprises and GE Capital. Lowe Orchard LLC paid $16.5 million in late December for the 350,559-sf, two-building asset at 5200 and 5202 Old Orchard Rd., the former Searle and Pfizer headquarters.

The first two leases have claimed 44% of the space, as National Louis University took 101,352 sf. In addition to tenant improvements, redevelopment of the property continues with new entryways, lobbies, elevator cabs, washrooms and landscaping. Sg2 chairman Michael A. Sachs, whose company will move from 1560 Sherman Ave. in Evanston, adds the property’s location along the Edens Expressway made it accessible to clients and employees driving from Downtown as well as the North Shore suburbs.

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