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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.

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