{"id":1004764629,"date":"2025-07-11T03:08:40","date_gmt":"2025-07-11T11:08:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004764629"},"modified":"2025-07-17T23:36:31","modified_gmt":"2025-07-18T07:36:31","slug":"trammell-crow-beacon-deliver-chicago-life-science-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trammell-crow-beacon-deliver-chicago-life-science-building\/","title":{"rendered":"Trammell Crow, Beacon Deliver Chicago Life Science Building"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0c557c0a18d&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"1200\" data-attachment-id=\"1004764630\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-beacon-deliver-chicago-life-science-building\/hyde-park-labs-article\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg\" data-orig-size=\"1200,1200\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Hyde Park Labs article\" data-image-description=\"&lt;p&gt;Exterior shot of Hyde Park Labs, a 302,388-square-foot life science building in Chicago.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 13-story building is within Chicago&#8217;s South Side neighborhood, less than 8 miles from the city&#8217;s downtown. Image courtesy of Beacon Capital Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg\" alt=\"Exterior shot of Hyde Park Labs, a 302,388-square-foot life science building in Chicago.\" class=\"wp-image-1004764630\" style=\"width:auto;height:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg?resize=150,150 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg?resize=300,300 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg?resize=768,768 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Hyde-Park-Labs-article.jpg?resize=1024,1024 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 13-story building is within Chicago&#8217;s South Side neighborhood, less than 8 miles from the city&#8217;s downtown. <em>Image courtesy of Beacon Capital Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Trammell Crow Co. and Beacon Capital Partners has delivered Hyde Park Labs, a 302,388-square-foot life science building in Chicago. The partnership also opened Southside STEM Station\u2014its STEM engagement center for local youth\u2014on the facility\u2019s ground floor.<\/p>\n\n\n\n<p>The venture <a href=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-jv-tops-out-chicago-life-science-project\/\">topped out<\/a> the 13-story building in February last year, while vertical construction started in 2023. The developers financed the construction with a $136 million note originated by CalSTRS, according to Yardi Research Data.<\/p>\n\n\n\n<p>Development partners included general contractors Power Construction and Ujamaa Construction, along with architecture firms Elkus Manfredi Architects and Interactive Design Architects, as well as management consultant Trinal. CBRE Executive Vice President Dan Lyne and Advisor Brandon Green are handling the leasing efforts.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/key-trends-shaping-the-life-science-sector\/\">6 Key Trends Shaping the Life Science Sector<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 5207 S. Harper Ave., the property is within Chicago\u2019s South Side neighborhood and close to Washington Park. Downtown Chicago is within 8 miles, while the city\u2019s international airport is about 23 miles northwest.<\/p>\n\n\n\n<p>The facility has nine full floors of lab and office space averaging 33,734 square feet atop four levels of parking\u2014one of which is below-grade\u2014and about 4,200 square feet of chemical storage space. The building also has 40,000 square feet of tenant amenities, including private terraces on every floor, indoor bar and a fifth-floor terrace\u2014dubbed The Lawn\u2014with grills and firepits.<\/p>\n\n\n\n<p>The University of Chicago preleased about 55,000 square feet within the property. The school\u2019s space also includes UChicago Science Incubator, a partnership between the Polsky Center for Entrepreneurship and Innovation and Portal Innovations.<\/p>\n\n\n\n<p>The mid-rise is part of the second phase of the Harper Court mixed-use project. The 650,000-square-foot first phase debuted in 2013. Completed components within the master plan comprise a 150,000-square-foot office tower partially used by UChicago\u2019s administrative departments, a 131-key hotel and more than 75,000 square feet of retail space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chicago-s-construction-activity-behind-peer-markets\">Chicago\u2019s construction activity behind peer markets<\/h2>\n\n\n\n<p>Chicago\u2019s office development pipeline as of May was below 800,00 square feet, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-june-office-report\/\">Yardi Matrix office report<\/a> shows. The market lagged behind all other gateway metros, while Boston (5.9 million square feet) led nationally.<\/p>\n\n\n\n<p>One of the projects set to come online this year is Fulton Street\u2019s 919 West Fulton. The <a href=\"https:\/\/www.commercialsearch.com\/news\/fulton-street-tops-out-chicago-office-project\/\">building topped out last year<\/a> and will span 409,000 square feet. Additionally, it will be the tallest in the Fulton Market Historic District, rising 11 stories.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The University of Chicago already preleased about 55,000 square feet at the mid-rise.<\/p>\n","protected":false},"author":3355,"featured_media":1004764632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21782,13,21742,21747],"tags":[34128,40376,32789,38482,37895,32893,38831],"class_list":["post-1004764629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-development","category-midwest","category-latest","category-office","tag-beacon-capital-partners","tag-calstrs","tag-cbre","tag-elkus-manfredi-architects","tag-power-construction","tag-trammell-crow-company","tag-ujamaa-construction"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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