When Medline Industries leased an entire seven-story building north of Chicago, it wasn’t just the largest office lease signed in the suburbs since 2022.
The deal was part of a continued expansion by the medical products company, which stands out amid the trend of many employers cutting back on real estate and other costs since the onset of COVID-19 in early 2020.
In one of the largest suburban leases signed since the onset of the pandemic, Medline leased the entire 214,560-square-foot north building at 2375 Waterview Drive within Japanese drugmaker Astellas Pharma’s longtime two-building campus in Northbrook, Illinois.
Last year, Medline also more than tripled its downtown office space in the Merchandise Mart to a total of 161,000 square feet.
Headquartered in north suburban Northfield, the medical products company has increased its Chicago-area employee count from 4,600 at the end of 2019 to 6,100 now.
The large Northbrook lease was selected by a panel of industry professionals as the winner of a 2025 CoStar Impact Award for lease of the year in the Chicago area.
About the project: The long-term deal, valued at more than $100 million, allowed Astellas to cash in on space it no longer uses after consolidating workers into a smaller space within the other building. In 2023, Astellas leased part of the south building to CF Industries.
The deal includes signage visible from Interstate 294, along with amenities such as a cafeteria, outdoor terraces, walkable retail, conference and fitness centers, and a planned new tenant lounge.
Medline will move into the Northbrook space in the second quarter of 2025.
What the judges said: “Medline's growth and their continued commitment to retain and expand talent and jobs in the Chicago area is notable,” said Jane Acker of Farpoint Development. “The brokers’ and ownership's patience and creativity in building and occupying the campus, especially given myriad headwinds in office since COVID, are also important to recognize.”
They made it happen: The tenant was represented by CBRE brokers James Otto, Jon Milonas, Paul Diederich and Peter Livaditis. The landlord was represented by Transwestern brokers Kyle Robbins, Andrew Davidson and David Burkards.