Skokie, IL, March 31, 2017 – Chicago-based American Landmark Properties hosted Governor Bruce Rauner for a tour of the Illinois Science + Technology Park (“ISTP”) located at 4901 Searle Parkway, in Skokie Friday morning. A one-hour town hall meeting—attended by many of the park’s life science, energy and nanotech company employees—followed a tour by Governor Rauner of one of the research park’s laboratories.
“The Illinois Science and Technology Park is on the forefront of innovation to help grow Illinois. This facility allows for smaller companies to grow and flourish,” said Governor Rauner. “In order to move Illinois forward, we have to continue to invest in small businesses that our transforming our economy. We need to make structural changes to get our state back on track.”
ISTP is a corporate research campus with multi-user wet-lab research and office space for life science and technology companies. Approximately 1,500 jobs are based in the park with 25 different companies including LanzaTech, Northshore University Health System and start-ups from Northwestern University.
The complex is situated on an approximately 24-acre corporate campus, with nearly 556,650 square feet of fully developed office, laboratory, and amenity space.
“The Illinois Science + Technology Park represents one of Chicago’s premier life science and technology campuses,” said Yisroel Gluck, President of American Landmark Properties. “The three existing fully renovated lab and office buildings are currently 86 percent leased to leading domestic and multi-national life science, energy, and nanotech companies.”
ISTP offers a high-profile, research-oriented campus complete with a central quad and flexible buildings designed to accommodate demand from life science and technology users at various stages of the corporate life cycle – from startup to Fortune 500.
To date, approximately 510,000 square feet of the campus has been repositioned into first class office/ R&D facilities.
Scott Brandwein and David Saad of CBRE are the leasing agents for the ISTP property.
“We are seeing a lot of momentum in the market from science-based R & D companies encompassing a variety of industries, along with our Chicago-area research universities,” said CBRE’s Brandwein.
“With all of this activity, we are seeing an increase in demand for quality lab space with modern infrastructure,” said CBRE’s Saad. “ISTP provides the highest quality opportunity in the Chicagoland area.”
Included in the ISTP campus is the 136,000-square-foot 8030 Lamon Avenue building shell which is ideal for a build-to-suit tenant. Additional development opportunities include up to 1.3 million square feet of new office and lab facilities on the ISTP campus.
In the Chicago market, American Landmark Properties is the owner of several suburban office and industrial properties. It is best known for its acquisition of the Willis Tower in 2004 and its sale to the Blackstone Group in 2015.