Illinois Science + Technology Park

Skokie, Illinois

556,650 SQUARE FEET

5 BUILDINGS

  • ASSET CLASS: Office/Research
  • IRR: 17% (Projected)
  • MULTIPLE: 2.2x (Projected)
  • TOTAL EQUITY: $29,150,000

The Illinois Science + Technology Park is located in Skokie, Illinois, situated on an approximately 24-acre corporate campus, with nearly 556,650 square feet of fully developed office, laboratory, and retail space in five existing buildings. American Landmark Properties acquired the property for $77 million in 2017 with a loan of $54,285,000. Included in the acquisition is a 136,000-square-foot building shell, which is ideal for a build-to-suit tenant, and additional development opportunities for up to 1.3 million square feet of new office and lab facilities on the campus. Immediately after the acquisition, American Landmark Properties announced a program to complete the redevelopment of the shell building and upgrade the common areas of the other buildings. This announcement was followed by the execution of a new lease with Northwestern University for nearly 9,000 square feet. In addition to the acquisition and syndication, American Landmark Properties is responsible for the leasing and management of this world-class project.

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