ISTP, 8025 Lamon Ave. Skokie, Il 60077

ISTP Campus Improvements

The transformation of the ISTP campus draws inspiration from the fusion of science and nature, reinforcing the campus’s commitment to wellness and sustainability. Updated common areas are designed to promote physical activity, social interaction, collaboration and a sense of connection in a dynamic scientific setting, marking a new chapter in the campus’s evolution.

The dramatic four-story atrium at the heart of the campus is anchored by a vertical volume of stacked meeting spaces clad in wood slats. Thoughtful lighting upgrades help define the architectural volume, while moveable furniture allows the large space to seamlessly transition from a third workplace to hosting informal gatherings and community events.

Hospitality-inspired areas for relaxation provide a comforting escape from structured lab environments. The redesign also extends to the auditorium and conference center, equipped with new technology, while refreshed locker rooms and restrooms feature spa-like amenities to further enrich the user experience.

Sustainability is a key focus of the design, with recycled content and carbon-neutral products prioritized in material selection. Biophilia-themed furnishings and finishes, along with carefully selected art pieces throughout the campus support the concept of scientific journey.

To learn more about ISTP leasing options, click here. 

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Trends to Watch in 2024

6 Life Science Trends to Watch in 2024.

The life sciences industry is undergoing significant disruptions, fueled by technological advancements such as additive manufacturing, 3D printing, closed-loop continuous systems and AI. New scientific discoveries, supply-demand dynamics, sustainable innovations and strategic partnerships are creating numerous opportunities for life sciences companies, investors and developers.

This perfect storm of activity has the potential to revolutionize the utilization of real estate in the long run.  Explore six trends poised to impact the life sciences industry in the year ahead.

What will matter most?

  • Everything is hyperlocal.
  • It’s an occupier’s market.
  • Doing more with less
  • Sustainable design and operations
  • Wave of new modalities.
  • Patent cliff is the perfect storm for M&A

These trends have a unique and long-term impact on your locations, workplace environments and overall portfolio.

Click here for more information from JLL.

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LanzaTech – Dow: Collaboration

LanzaTech Global, Inc., the carbon recycling company transforming waste carbon into sustainable raw materials, has collaborated with Dow to introduce a new biodegradable surfactant to the home care market.

Dow’s surfactant, EcoSense™ 2470, is made using LanzaTech’s CarbonSmart™ technology and ensures immediate market entry, while maintaining high-performance standards and advancing sustainability with recycled carbon materials. Surfactants are a critical ingredient for creating the foam and cleaning action of many household cleaning and laundry products.

LanzaTech’s biorecycling technology works like a brewery: proprietary bacteria consume carbon-rich pollution from industrial facilities, such as steelmaking plants, and convert it into CarbonSmart™ chemicals, such as ethanol. This ethanol can be converted into ethylene oxide, and subsequently used to produce surfactants.

This recycled carbon-based surfactant, marketed by Dow as EcoSense™ 2470, has versatile properties suitable for diverse home care applications.

“The capacity to provide cleaning solutions made from recycled carbon with outstanding effectiveness is a distinguishing factor that significantly influences the purchasing decisions of household consumers,” said Farooq Alam, Global Strategic Marketing Director, Dow Home Care. “EcoSense™ 2470 underscores our dedication to eco-conscious surfactant manufacturing, serving as the gateway to a sustainable future. It sends a resounding message to both home care brand owners and consumers that sustainability and superior performance work hand-in-hand harmoniously.”

“There is enough carbon above ground to make all the things we need,” said Jennifer Holmgren, CEO of LanzaTech. “We have been active in the ethoxylates space for several years, converting ethanol to surfactant ingredients, and with now Dow, our collaboration will enable us to greatly expand our reach in this market.”

Click for the complete announcement.

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Cour: New COO

COUR Pharmaceuticals, a clinical-stage biotechnology company developing novel immune-modifying nanoparticles designed to reprogram the immune system, announced the appointment of Dannielle Appelhans as Chief Operating Officer. In this role, Ms. Appelhans will oversee and execute the Company’s research and development, technical development, technical operations, and quality as well as be a significant contributor to corporate strategy and other business operations.

Ms. Appelhans served most recently as the Chief Executive Officer of Rubius Therapeutics, Inc., a publicly traded and clinical-phase biopharmaceutical company pioneering cellular medicines. She previously served as its Chief Operating Officer, where she oversaw corporate strategy, communications, quality, technical development, and operations.

Prior to joining Rubius, she worked at Novartis and held roles of increasing responsibility in operations and strategy culminating in her serving as Senior Vice President of Technical Operations and Chief Technical Officer at Novartis Gene Therapies, where she oversaw late-stage clinical development and commercial manufacturing.

Said John J. Puisis of COUR, “Dannielle’s operating experience will be pivotal in accelerating COUR’s therapeutic programs and positioning COUR in becoming a world class leader in antigen-specific immune tolerance.”

Click for the complete announcement.

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Mattiq: World Changing Ideas

Mattiq formerly Stoicheia , a company revolutionizing electrochemical process development to achieve the commercially viable sustainable production of chemicals and fuels, announced it’s a recipient in the prestigious 2023 World Changing Ideas Awards from Fast Company.

The awards program honors companies innovating to deliver transformative benefits to society.  The award recognized Mattiq for its first-in-kind approach to developing and commercializing technologies that will decarbonize chemical and fuel production, which remains one of the hardest-to-abate sectors. Key focus areas include the reduction or elimination of scarce, expensive metals like iridium for clean hydrogen production and the conversion of biomass into net-zero chemicals and fuels.

Mattiq’s technology enables industrial partners to accelerate the process of bringing best-in-class electrochemical solutions to market, reducing production costs, carbon footprint, and supply chain risk.

“It’s thrilling to see the creativity and innovation that are so abundant among this year’s honorees,” says Fast Company editor-in-chief Brendan Vaughan.

To learn more about this award, click here.

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LanzaTech Earthshot Prize

LanzaTech will be in the running to receive a £1 million award at the second-annual Earthshot Prize awards ceremony. The Prize takes inspiration from President John F. Kennedy’s ‘Moonshot,’ which united millions of people around an organizing goal to put man on the moon and catalyzed the development of new technology in the 1960s.

Prince William said: “The innovators, leaders, and visionaries that make up our 2022 Earthshot Finalists prove there are many reasons to be optimistic about the future of our planet. They are directing their time, energy, and talent towards bold solutions with the power to not only solve our planet’s greatest environmental challenges, but to create healthier, more prosperous, and more sustainable communities for generations to come”.

LanzaTech was launched to find new ways of producing sustainable fuels and chemicals that didn’t impact land, food or biodiversity.

CEO Dr. Jennifer Holmgren said, “We are honored to be recognized by HRH Prince William as a Finalist for The Earthshot Prize. Fixing our climate is one of the greatest challenges of our generation, and we believe that with the support of The Earthshot Prize we can accelerate and scale our carbon transformation solution rethink how the world procures, uses and disposes of carbon. By utilizing carbon emissions as a resource, we hope to bring sustainable choices to all people. It is only through collaboration and the support of our community that we will succeed in repairing and regenerating our world. Congratulations to all the finalists.” For the entire press release, click here.

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Health Care & Life Sciences

Chicago Health Care and Life Sciences Real Estate Conference @ISTP.

Chicagoland is a leader in healthcare and an emerging life sciences hub. Attendees gained exclusive insights into the latest trends and actionable strategies to incorporate old and new techniques to improve the overall patient experience.

The program covered the future of Chicago’s life sciences sector as thought leaders discussed where the future of the asset class is headed. What does the market need for continued growth and expansion and what challenges are being faced? Industry leaders discussed how owners and developers are capitalizing on the healthcare and life sciences industries.

Topics included:

CHICAGOLAND’S EMERGENCE AS A LIFE SCIENCES HUB – How the City is Positioning Itself to Attract Highly Sought-After Investment and Best-in-Class Innovation

HEALTHCARE REPORT – Dissecting Chicagoland’s Development Pipeline, Tech and Operations, the Latest Innovations, and More!

STRATEGIC LAB DESIGN & CONSTRUCTION
Best Practices for New-Build Facilities and Adaptive Reuse Lab Space

For more pictures of this event, click here. 

For a complete program outline, click here.

 

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LanzaTech Goes Public

Skokie-based LanzaTech, is a biotech company that works to recycle carbon waste into everyday products and materials like fuels, fabrics and packaging. LanzaTech announced its plans to enter the public market through a merger with special purpose acquisition company AMCI Acquisition Corp. II. The deal will make it the first carbon capture and transformation business in the public space, according to the company.

When the acquisition closes, the combined company is expected to trade under the Nasdaq ticker symbol “LNZA.” The transaction will raise about $275 million in proceeds, money LanzaTech plans to put toward executing its business plan, accelerating commercial operations, funding partner development projects and building out its tech. The deal is set to close in the third quarter of 2022.

“LanzaTech revolutionary technology repurposes waste carbon for use as a feedstock to make the products we use in our daily lives—from yoga pants to jet fuel,” said Dr. Jennifer Holmgren, LanzaTech’s CEO. “Our carbon recycling technology is like retrofitting a brewery onto an emission source like a steel mill or a landfill site, but instead of using sugars and yeast to make beer, pollution is converted by bacteria to fuels and chemicals.”

“We are showing the world what is possible when we radically rethink how we source, use and dispose of carbon. We are excited to be on this journey,” Holmgren further noted.

For more details, click here.

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ISTP Ownership Changes

These recent sales highlight property types for which real estate investors have clamored during the COVID-19 pandemic: high-quality life sciences research buildings and office buildings with big, single tenants with good credit and long-term leases. The former has benefited from a rush of venture capital pouring into biotech and pharmaceutical research throughout the public health crisis, while the latter has drawn buyers looking for safe places to invest amid economic uncertainty

A venture of Hallandale Beach, Fla.-based TopMed Realty bought the 233,588 -square-foot office building at 4901 Searle Parkway. The building, which is almost fully leased to NorthShore University HealthSystem on a long-term deal, was purchased from a venture of Skokie-based American Landmark Properties

The sale comes a month after American Landmark sold the life sciences lab portion (8025 and 8045 Lamon Ave.), the majority of the leased 22.6-acre ISTP campus to Chicago-based investor Singerman Real Estate. 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.

Noted Sam DiFrancesca and Lucas Borges of the JLL Capital Markets team…. “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,” “The level of lender interest in this portfolio is further testament to Chicago’s significant growth potential within the life sciences space.” Max Zwolan and Scott Brandwein of JLL also supported the transaction and will continue to handle the leasing for the buyers.
For the entire article, click here.

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8-Story Hotel In Downtown Skokie

The 142-room Homewood Suites by Hilton is planned for the northeast corner of Oakton Street and Niles Avenue. The deal calls for the developer to present proof that a hotel at least as prestigious as a Homewood Suites plans to operate at the site for at least 15 years.

The hotel is set to include 30,000 square feet of retail space on its ground floor and rooftop and about 10,000 square feet of banquet and event space.

Corporation Counsel Michael Lorge said the project will be a positive addition to the under-construction 8000 North development about 1,000 feet to the west on Oakton Avenue.  “The addition of a hotel to the downtown area is an important and a commanding addition to the economic development already going on in downtown Skokie, and it provides great resources for the surrounding corridor,” Lorge said ahead of the project’s approval at the Dec. 7 village board meeting. “It is also an important addition to the Illinois Science and Technology Park, which needs hotel accommodations for its tenants.”

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