Lake County technology center listed

CBRE has been retained by ownership to list 63,234 square feet of lab space and service center space at the newly-redeveloped Lake County Technology center at 909 E. Orchard St. in Mundelein.

Originally built by Baxter as a life-science research and development facility, new ownership is undertaking a significant capital reinvestment and redevelopment of the property, which will include approximately 30,000 square feet of speculative lab space. The property is being managed by Ekstein Asset Management during this exciting new phase of development. Ekstein Asset Management has over 30 years of nationwide experience in management and development of commercial, industrial and retail projects.

"Ownership has done an excellent job investing in the property and providing updated lab space for modern users," said CBRE's Brandwein. "In total, the building will receive close to $1 million in renovations and should be completed by mid-June."

Scott Brandwein and Jared Paff of CBRE will represent ownership in the listing.

The lab spaces range in size from 200 to 1,700 square feet, and each lab is exclusively leased by each user. Labs can be combined to create larger lab spaces. There is a life-science lab that is approximately 10,000 square feet and is ideal for virology, immunology and animal research. There is also approximately 10,000 additional square feet of lab space that is suitable for large-scale, general wet-lab research and development.

"There is an extreme shortage of quality lab space in the Chicago market and this product will help meet the demand," said Brandwein. "This is an excellent location, near many of the large life science and pharmaceutical companies that operate in the northern suburbs. For firms that want proximity and synergy to these industry leaders, the Lake County Technology Center will be an excellent option."