Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VERNON HILLS, IL-Morton Grove Pharmaceuticals is making a move out of its namesake north suburban headquarters. The supplier of specialty and generic liquid drugs will use 20,400 sf at 50 Lakeview Pkwy. in the Rogers Executive Parke here for offices and a laboratory.

Although terms of the deal were not disclosed, asking net lease rates at the one-story, 118,500-sf property start at $9.50 per sf. Highly flexible build-out options were among the attractions for the medical company, according to Norman Ross of Arthur J. Rogers & Co. John Hauser and John Suerth of Insignia ESG represented Morton Grove Pharmaceuticals.

Although vacancy was most recently pegged at 16.8% by U.S. Equities Realty, the northern suburbs is the strongest submarket by that measure, according to the company’s quarterly report.

Also at 50 Lakeview Pkwy., Therapediatrics, LLC signed a 2,700-sf lease for a pediatric therapy clinic while electrical components distributor Sanyo Denki America Inc. renewed a 2,250-sf lease. Albert Lindeman of Sperry Van Ness represented Therapediatrics, while Hiloh Izumo of Insignia/ESG represented Sanyo Denki America.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.