Beacon Capital and Trammell Crow Construct Hyde Park Labs

Beacon Capital Partners and Trammell Crow Company are constructing Hyde Park Labs in Chicago. Designed by Elkus Manfredi Architects, Moody Nolan, and Interactive Design Architects (IDEA), the $225 million project involves the creation of a 13-story building atop an existing retail podium. The completed 370,000-sf facility will offer 300,000 rsf of Class A lab and office space spread over nine floors. With an integrated business incubator to accelerate the commercialization of research discoveries, the development will also house an executive boardroom, a 2,500-sf STEM engagement center, and three levels of parking. The University of Chicago has pre-leased approximately 55,000 sf to accommodate investigators from the Pritzker School of Molecular Engineering.

Featuring 40,000 sf of world-class amenities, this vibrant innovation hub will include private patios on each floor, an internal bar and lounge area, and a green roof terrace with grills and fire pits. 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 facility, which is targeting both LEED and WELL certification. Work began on the project in February of 2023 and completion is expected in late 2024.