Skokie tech park owner buys campus building at big discount

Science and Technology
Source: (remove) : Crain's Chicago Business
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Tue, December 10, 2024

[ Tue, Dec 10th 2024 ] - Crain's Chicago Business

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^{Published in Science and Technology on Tuesday, December 10th 2024 at 1:22 GMT by Crain's Chicago Business}

Singerman Real Estate acquired an empty lab building on the Illinois Science & Technology Park campus for a fraction of its redevelopment cost.

The article from Crain's Chicago Business discusses the acquisition of a building within the Illinois Science + Technology Park in Skokie by Singerman Real Estate. The property, located at 8041 N. Lincoln Ave., was purchased for $10.5 million. This building, which spans 60,000 square feet, is currently leased to the Illinois Department of Public Health for use as a laboratory and office space. The transaction was facilitated by the need for the state to consolidate its lab operations, moving from a larger facility in Chicago to this more compact location. The sale reflects a strategic move by Singerman to invest in properties with stable, long-term tenants, particularly in sectors like life sciences which are seen as resilient even during economic downturns.

Read the Full Crain's Chicago Business Article at:
[ https://www.chicagobusiness.com/commercial-real-estate/singerman-buys-illinois-science-technology-park-building ]

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