CHICAGO, Oct. 13, 2021 -JLL Capital Markets announced today that it has closed the sale and financing of 8045 and 8025 Lamon Ave., a two-building life sciences portfolio within The Illinois Science + Technology Park, located in Skokie, Illinois.
JLL marketed the property on behalf of the seller, American Landmark Properties, procured the buyer, Chicago-based Singerman Real Estate, and arranged the acquisition financing.
Situated within the 22.6-acre master-planned Illinois Science + Technology Park, the portfolio consists of 286,184 rentable square feet contained within two adjacent buildings. The portfolio is comprised of a mix of highly technical wet lab and GMP space and is home to established global life sciences brands as well as prestigious university affiliated venture backed startups. Situated within Chicago's transit-oriented first ring suburbs, the portfolio benefits from a central location proximate to Chicago's world-renowned universities, research institutions and deep labor pools.
American Landmark Properties is a private real estate investor specializing in value-add real estate opportunities. They originally acquired the 8025 and 8045 Lamon buildings in 2016 and quickly embarked on a renovation of the buildings. This allowed them to stabilize the park by adding a number of high-growth life science and biotech companies. The park has become a prosperous hub for innovation and discovery where businesses can grow and thrive.
The JLL Capital Markets team representing the seller was led by Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Nick Psyllos.
"We were encouraged by the depth of capital with an interest in Greater Chicago and are excited to see such an established national life sciences investor as Singerman committing to the market," said DiFrancesca.
The JLL Capital Markets team leading financing efforts was led by Danny Kaufman and Lucas Borges.
"The lending community expressed a strong desire to place capital in Chicago's emerging life sciences cluster," Borges added. "The level of lender interest in this portfolio is further testament to Chicago's significant growth potential within the life sciences space."
JLL agency leasing professionals Max Zwolan and Scott Brandwein also supported the transaction and will continue to handle the leasing for the buyers.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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