Chicago Construction News staff writer
Trammell Crow Company and Beacon Capital Partners have announced that construction has topped out at Hyde Park Labs in Chicago.
The South Side’s first commercial, purpose-built advanced R&D lab, the building is expected to be completed in 2025, after the delivery of the base building in late 2024.
Project partners include Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa, and Trinal, who is acting as the development’s diversity and inclusion consulting company.
The University of Chicago has leased about 55,000 sq. ft. at the building, which will house a half-floor incubator space to support early-stage science research.
“Hyde Park Labs is situated at the epicenter of the Hyde Park downtown neighborhood, where there has been tremendous innovation driven in large part by the transformative deep tech, medical and quantum research and entrepreneurship led by the University of Chicago,” TCC’s Morgan Baer-Blaska said in a statement.
The plan includes nine floors of Class A lab and office space and ground-level retail spaces and 40,000 square feet of tenant amenities, including a fifth-floor terrace dubbed “The Lawn” that will feature grills, firepits, views of Lake Michigan and connection to the interior tenant lounge.
“Hyde Park Labs is situated at the epicenter of the Hyde Park downtown neighborhood, where there has been tremendous innovation driven in large part by the transformative deep tech, medical and quantum research and entrepreneurship led by the University of Chicago,” said TCC’s Morgan Baer-Blaska. “The proximity and partnership with this world-class institution allows us to further support a science ecosystem that is already growing rapidly in this market.
Hyde Park Labs is the second phase of development at Harper Court, which currently includes a hotel, an office building that houses UChicago administrative offices, and retail space. The TCC/Beacon development plan and design was crafted to create an innovative R&D and science hub with direct community benefits.
