Billionaire acquires former McDonald’s HQ campus
Hair-care billionaire John Paul DeJoria has scooped up the former McDonald’s campus in the Chicago suburb of Oak Brook, Ill., a year after the fast food behemoth moved its global headquarters downtown.
Scott Miller and Lindsey Fahey of JLL represented McDonald’s in the sale, while Perry Higa of NAI Hiffman represented the buyer.
The 80-acre site near Jorie Boulevard and 31st Street includes a 331,630-square-foot Class A office building that served as the company’s headquarters; the 130,484-square-foot Hamburger University training facility; and a 218-key Hyatt hotel. The Dirk Lohan-designed campus was completed in 1988 and McDonald’s was its sole occupant until last year, when the burger chain shifted employees to a new, 550,000-square-foot building along Randolph Street in Chicago’s West Loop. The move was completed in June 2018. In addition, the hotel, The Hyatt Lodge, continues to operate, but otherwise it’s not clear what Paul Mitchell Systems co-founder DeJoria plans to do with his newly acquired campus. Current zoning allows for more commercial space to be built on the site.
Perry Higa noted in a prepared statement that future plans will involve upgrading the campus to modern, Class A standards and maintaining the commercial buildings for corporate office, training, meeting space and other commercial uses. Other potential occupiers include medical offices and schools.
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