Hines agrees to cap micro-units at former McDonald’s HQ redevelopment

The Houston developer will build Oak Brook’s first-ever apartments in the $500M project

TRD CHICAGO /
May.May 30, 2019 08:00 AM
Hines’ Greg Van Schaack and a rendering of the Oak Brook Commons project

Hines’ Greg Van Schaack and a rendering of the Oak Brook Commons project (Credit: Hines)

Hines Interests will cap the number of mico-apartments in its planned redevelopment of part of the former McDonald’s corporate headquarters in Oak Brook.

The Oak Brook Village Board approved Hines’ $500 million mixed-use development on 17.5 acres at 22nd Street and Spring Road, according to The Doings.

With the vote, Houston-based Hines is set to bring 250 apartments, 104 condos, a 252-key hotel, office space, commercial space and a park to the former McDonald’s Plaza site.

The development is a major win for Oak Brook, which was staring down a nearly 100-acre vacant corporate campus when McDonald’s left for Fulton Market in summer 2018. Despite its unanimous approval, the project was not without controversy.

That’s because the project will feature the ritzy suburb’s first ever apartments. Hines previously assured residents the apartments would not be public housing.

In securing the final approval, Hines agreed to a minimum apartment size of 700 square feet and a limit of 25 units that can be in the 700-square-foot range, according to The Doings. In return, the apartment building will have a maximum height of 182 feet, instead of the original 165 feet, though the increased height would not result in more units.

Weeks after McDonald’s left for the city, Hines had a deal to acquire a 328,000-square-foot office building at the site and announced plans for a mixed-use “village center.” Another 74 acres of the campus is being marketed by JLL. [The Doings] — Joe Ward

 

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