Rhaeos signs lease at Fulton Labs

Trammell Crow Company has announced that it has signed a new lease within its Fulton Labs life science campus for Rhaeos. The clinical-stage medical device technology company will occupy 7,344 square feet within a lab-ready graduation suite on the fifth floor of 400 North Aberdeen in Chicago’s Fulton Market neighborhood. The space represents a relocation and expansion of the company’s headquarters and laboratory, which was previously in Evanston. Rhaeos moved into 400 North Aberdeen in January 2025.

“In spite of a difficult national leasing market, we’ve had tremendous success leasing our lab-ready graduation spaces to growing start-ups and institutions in the market,” said Morgan Baer Blaska, Vice President with TCC Chicago. “These tenants are looking for immediate space as they hit major research or funding milestones and need to ramp up research right away. Aside from the demand we’ve seen at Fulton Labs, TCC has also seen tremendous success with these types of buildouts at our other projects, including Evanston Labs, adjacent to Northwestern University. We are designing similar floorplans in our Hyde Park Labs project in partnership with Beacon Capital and the University of Chicago.”

Born out of the Rogers Research Group at Northwestern University, Rhaeos is developing noninvasive wearable flow sensors for various chronic medical conditions for hospital and home use, starting with hydrocephalus. Rhaeos’ move to Fulton Labs represents a relocation and expansion of its headquarters and main laboratory. The company plans to utilize its new space to grow and expand its platform.

“This move to Fulton Labs marks an exciting new chapter for Rhaeos,” said Anna Lisa Somera, CEO of Rhaeos. “The unique ecosystem of life science companies here fosters collaboration and innovation, creating an environment where technologies like ours can thrive. The space also gives us the opportunity to grow, expand our platform, and advance our mission to make a meaningful impact on patients' lives through improved care and outcomes.”

Dan Lyne of CBRE represented TCC in the deal, while Andria Winters and James Otto, also of CBRE, represented Rhaeos. The company joins a roster of innovative tenants at 400 North Aberdeen, including Portal Innovations, Mattiq, the Chan-Zuckerberg BioHub, the Chicagoland Climate Investment Alliance, and the Illinois Institute of Technology.