Beacon Capital Partners and Trammell Crow Company began construction in February of 2023 on Hyde Park Labs in Chicago. Designed by Elkus Manfredi Architects and Interactive Design Architects, the $225 million project includes the construction of a 13-story building atop an existing retail podium. The 300,000-rsf facility will offer nine floors of Class A lab and office space supported by advanced infrastructure, complemented by a business incubator, a 2,500-sf community engagement hub, and three levels of parking. The University of Chicago has pre-leased 55,000 sf to accommodate researchers from the Pritzker School of Molecular Engineering.
Featuring 40,000 sf of world-class amenities, this dynamic innovation center will offer private patios on each floor, an internal bar and lounge area, and a rooftop terrace with grills and fire pits on the fifth story. Hyde Park Labs is being built by a joint venture of Power Construction and Ujamaa Construction. CBRE is acting as exclusive leasing agent for the sustainably designed development, which is expected to attain both LEED and WELL certification. Completion is slated for late 2024. The project represents the second phase of the 1.1 million-sf Harper Court mixed-use complex, which includes a hotel and an office building occupied by the University of Chicago.
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