John Paul DeJoria, Global Philanthropist and American Entrepreneur, has completed the acquisition of the 80.55-acre, three building former McDonald’s corporate headquarters campus in Oak Brook, Illinois. The purchase price was not disclosed.
Perry Higa, Senior Vice President of NAI Hiffman, represented John Paul in the transaction. JLL’s team of Scott Miller and Lindsey Fahey represented McDonald’s in the sale.
The headquarters campus includes the former McDonald’s Headquarters which is approximately 331,630 square feet, the former Hamburger University which is approximately 130,484 square feet of training, corporate meeting space and office space as well as 741 covered parking space and additional surface parking throughout the campus. All buildings are connected via covered, outdoor pathways.
The third building on the campus is a 218-key Hyatt branded hotel. The Hyatt Lodge, as it is called, has continued full operations since McDonalds moved to downtown Chicago. The hotel continues to book future events.
One of the great benefits to the campus is its natural beauty with lakes, streams, creeks and trees scattered throughout the property.
“This Campus comes with a rich history and significance to the community, and there’s such beauty throughout the entire site. I am honored to continue that legacy, and we look forward to welcoming the next generation of special guests and corporations to the property. There’s most certainly going to be a bright future ahead,” said DeJoria.
According to Higa, specific plans concerning the future of the campus are still being formulated, but the intention is to maintain the current use of the property for commercial office, training, corporate meeting space and other potential commercial users. This will allow the new owner to capitalize on an increasingly limited supply of Class A office space on the east side of Oak Brook and the synergies of an existing state-of-the-art training facility and hotel property.
“Everyone acknowledges the significance of the property both in the culture and history of McDonalds as well as the Village of Oak Brook,” Higa said. “The future plans for the campus will respect its beauty and significance while also embracing and forging ahead with the tremendous opportunity in transforming the campus to modern, Class A standards.”
“On behalf of Oak Brook’s thriving business community, we thank John Paul DeJoria for his investment in Oak Brook. When the founder of such iconic brands as Paul Mitchell and the Patron Spirits Company invests in your town, it means your future is bright. The Greater Oak Brook Chamber of Commerce’s members, Village President Gopal Lalmalani, and Oak Brook’s residents are thrilled to welcome John Paul DeJoria to Oak Brook,” says David Carlin, President and CEO, Greater Oak Brook Chamber of Commerce and Economic Development Partnership.
“There is great opportunity to reposition the existing commercial buildings and attract additional Corporate office, medical office, non-for-profit or for-profit schools and conference center users, among others, to the McDonald’s Campus,” adds Higa. New ownership will be a good neighbor, corporate citizen and steward of the renowned and iconic property.”
Current zoning will allow additional commercial space to be developed on the site.
The former McDonald’s corporate campus is located immediately south of I-88, a major east-west highway connecting the western suburbs to the City of Chicago and providing convenient highway accessibility to O’Hare International Airport and other suburban markets. The campus is located minutes from Oakbrook Center and adjacent to Butler National Golf Course.