IS+TP Development Portfolio _Property for Sale
IS+TP Development Portfolio _Property for Sale
8030 Lamon Ave, Skokie, IL, 60077-5308, US

IS+TP Development Portfolio

Asset description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to offer qualified investors the unique opportunity to acquire the IS+TP Development Portfolio (“the Portfolio”, “the Properties”). Situated within the 22.6-acre master-planned Illinois Science + Technology Park ("IS+TP", "the Park"), the Portfolio is comprised of 8.96-acres of fully-entitled development parcels situated within the Village of Skokie’s Downtown Science & Technology TIF District, providing for nearly 1.3 million buildable RSF; a new $20 million 135,851 SF spec lab redevelopment that is under LOI to be 35% pre-leased, as well as mission critical Park infrastructure that includes various parking sites as well as the IS+TP Central Plant and related reoccurring administrative fee revenue.


With a rich history spanning nearly a century, the IS+TP has functioned as a purpose-built, world-class research and innovation hub since G.D. Searle first occupied the Park as its headquarters in 1941. Currently home to high credit contract manufacturers, global research and development corporations, and innovative biotech companies, with current Park occupancy of 93.4%* and average Park occupancy of 93.5%* since 2011, the IS+TP Development Portfolio stands to benefit from proximity to rising demand from the Park's existing Tenant base.


* Excluding 8030 Lamon

...

Investment highlights

  • A Long History of Public Private Partnership Benefits Chicago's Preeminent Science & Technology Cluster


  • Ultimate Developer Friendly Location – Nearly 1.3 Million Buildable SF As-Of-Right


  • Brand New Science & Technology Development at a Substantial Discount to Replacement Cost – 8030 Lamon


  • IS+TP On-Campus and Off-Campus Incubators: 8025 & 8045 Lamon and Northwestern University


  • IS+TP Declarant Administrative Fee Provides for Additional Income


  • Availability of Valuable Financial Incentives Including 7(b) Tax Abatements

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IS+TP Development Portfolio (0 Properties)

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Last updated
May 16, 2024