American Landmark Properties acquired the Illinois Science & Technology Park on Searle Parkway in Skokie, IL. The local buyer paid seller Forest City Realty Trust Inc. $77 million for the 533,000-square-foot bioscience, pharmaceutical and nanotechnology office campus. Forest Park acquired the campus in 2005, when it was a single-user pharmaceutical research campus belonging to Searle Pharmaceuticals.

The new owner is planning a new development on the 24-acre campus site, which could include a 500,000-square-foot residential and retail project. Plans could also include up to 1.3-million-square-feet of new office and lab facilities. CBRE’s Scott Brandwein and David Saad have been retained to lease up both the vacant and planned space in the park.

For comments, questions or concerns, please contact Amy Sorter