Hines wins approval for $500M redevelopment of former McDonald’s HQ
The Houston developer plans to convert a portion of the campus into residences, offices, a hotel and park
Hines Interests has been cleared to build the first-ever apartments in Oak Brook as part of its massive, $500 million redevelopment of the former McDonald’s headquarters.
The Oak Brook Village Board this week approved the Houston-based firm’s plans to redevelop a 17.5-acre slice of the vacated corporate campus, according to The Doings.
Hines’ plans for the property at 22nd Street and Spring Road include 250 apartments, 104 condos, a 252-key hotel, office space, commercial space and a park.
The development includes a series of firsts for the upscale western suburb. It marks the first time apartments will be developed in Oak Brook, and it’s the first multi-tenant office project since Hines built office space in the suburb in 2000, according to The Doings.
The apartment portion of the project proved controversial, with opponents worried the units could sit vacant or be turned into Section 8 housing. After unveiling its plans for the site in January, Hines addressed neighbors’ concerns by paring down its rental units from the originally proposed 500 to the approved number of 250.
McDonald’s completed its move from Oak Brook to Fulton Market in summer 2018. Weeks later, Hines had a deal to acquire a 328,000-square-foot office building at the former campus, and announced plans for a new mixed-use “village center” on the site.
The Hines site represents just a small part of the former McDonald’s headquarters. Another 74 acres of the campus is being marketed by JLL. [The Doings] — Joe Ward