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Section of building Q's 161,229 state-of-the-art chemistry and genomics laboratories

Building Q, Gold LEED rated "green" facility

Forest City delighted officials attending the July 2005 opening of the Illinois Science + Technology Park with a floor-to-ceiling balloon sculpture depicting a DNA double helix.

QUICK FACTS

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    • Developer is Cleveland, Ohio-based Forest City Enterprises, Inc.
    • Forest City is a publicly traded company.
    • In addition to experience in residential and retail development, Forest City developed the University Park life sciences park in cooperation with the Massachusetts Institute of Technology.
    • Forest City’s Illinois Science + Technology Park is situated on a 23.4-acre site in Downtown Skokie that was formerly occupied by G.D. Searle/Pfizer.
    • The campus allows research, development, education and commercial activities to occur in close proximity, thus allowing for innovative partnerships.
    • Current tenants, which collectively employ approximately 800 people on site, include:
      • Astellas
      • Evanston Northwestern Healthcare
      • Forest City
      • Midwest BioResearch
      • NanoBusiness Alliance
      • NanoInk
      • Nanotope
      • Polyera
      • Fisher Scientific
      • World Courier
    • The campus will eventually include two million square feet of laboratory and office space for lease and has already doubled the existing wet lab facilities in Illinois.
    • When fully developed, the campus will result in:
      • Approximately 3,000 to 5,000 on-site jobs in Skokie;
      • At least 1,000 construction-related jobs during project development;
      • More than 10,000 additional jobs throughout Illinois;
      • An estimated $1.8 billion annual increase in statewide economic activity;
      • Retention of Illinois research and development firms; and
      • Increased venture capital investment in Illinois.
    • It is estimated that people employed on the campus will spend $2 million annually in Skokie, just on their lunch hours.
    • Forest City estimates the total project cost at $500 million.
    • The State of Illinois has contributed $5 million to the project.
    • The Village of Skokie has provided $10 million in assistance from the proceeds of a General Obligation Bond issue.
      • The Village established a Tax Increment Finance (TIF) District to provide the financial mechanism to pay the principle and interest on the bonds.
      • The funds were provided to Forest City as reimbursement for TIF-eligible expenses.
    • The Village and Forest City have agreed upon a project rate of return. Should the developer exceed this rate of return, the Village will receive a pro-rata return on the public investment defined as approximately 7% of the project budget, thus guaranteeing that the developer will not see an extraordinary return on investment without sharing such profit with the Village.
    • After extensive review by the Village of Skokie Appearance and Plan Commissions, in January 2007 the Village Board approved a new zoning district for the campus.
    • The master plan for the park creates a very urban-oriented research park ambience by balancing taller buildings with open spaces and pedestrian ways.
    • The new zoning district requires a minimum 25% open space that is accessible to the public.
    • Forest City retained the state-of-the-art research facility previously known as building Q and three other newer or versatile buildings on the site.
    • New buildings consistent with the master plan will be built to suit as required by lease agreements.
    • The new IS+TP is designed to integrate into an expanded and rejuvenated Downtown Skokie.
    • A new CTA station for the Yellow Line (Skokie Swift) will be constructed on Oakton Street just west of Skokie Boulevard, directly adjacent to the research park.
    • To date, the Village has received over $10 million in Federal funds for the Downtown Skokie Swift Station project. The project is in the design engineering phase and plans are currently approximately 10% complete.