CHICAGO—Chicago-based American Landmark Properties recently acquired the Illinois Science + Technology Park located at 4901 Searle Pkwy., in suburban Skokie. The firm bought the property for $77 million from Forest City Realty Trust, which has owned it since 2005.
The 24-acre corporate campus has nearly 556,650 square feet of fully developed office, laboratory, and amenity space. Scott Brandwein and David Saad of CBRE have been retained as the leasing agents for the property.
“The Illinois Science + Technology Park represented a rare opportunity to acquire one of Chicago's premier life science and technology campuses,” says John Roeser, executive vice president of the Skokie-based American Landmark. “The three existing fully renovated lab and office buildings are currently 86% leased to leading domestic and multi-national life science, energy, and nanotech companies.” Major ISTP tenants include NorthShore University HealthSystem, Astellas Pharma, LanzaTech, Vetter Development Services USA and Fresenius Kabi.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
