Chicago, IL – September 17, 2025 – Beacon Capital Partners (Beacon), a leading real estate developer, owner, and manager of office and life science properties, and Trammell Crow Company (TCC), a leading commercial real estate developer, have announced a new lease addition with the University of Chicago (UChicago) at Hyde Park Labs in Chicago. The private research university will occupy over 155,000 square feet and is expected to move into its new space by the second quarter of 2026. The announcement was first made at the grand opening of Hyde Park Labs and UChicago’s Science Incubator on Tuesday, Sept. 16.
“The University of Chicago thrives on collaboration across disciplines and sectors,” said Mark Anderson, MD, PhD, Executive Vice President for Medical Affairs and Dean of the Biological Sciences Division at the University of Chicago. “By adding to our footprint at Hyde Park Labs, we are creating new opportunities for our researchers to partner with entrepreneurs, industry, and the broader scientific community to bring transformative ideas to life.”
The University’s new space at Hyde Park Labs, including 101,199 square feet across the building’s top three floors, will support research initiatives from luminaries such as Jeff Rathmell, PhD, Chair of the Ben May Department for Cancer Research and Director of the Ludwig Center for Metastasis Research, and Rama Ranganathan, MD, PhD, and Joseph Regenstein Professor in the Department of Biochemistry and Molecular Biology at the Pritzker School of Molecular Engineering.
“The University’s lease at Hyde Park Labs reflects its commitment to pursuing breakthrough discoveries through collaboration with leading researchers and by supporting early and growth stage companies. We’re very excited to have such an incredible institution as part of Hyde Park Labs,” said Fred Seigel, President and Chief Executive Officer of Beacon Capital Partners.
UChicago’s original lease included space for faculty research and its new UChicago Science Incubator, a partnership between the Polsky Center for Entrepreneurship and Innovation and Portal Innovations, to translate early-stage deep-tech concepts into commercial opportunities. Six UChicago-affiliated companies are among the incubator’s first tenants: memQ, Exactics, Signl, Cell Therapy, ZipBionexus Tech, and Neuro Innovations. In partnership with the University, the ground floor of the building will also initially host IBM’s next-gen modular quantum computer, called IBM Quantum System Two.
Located at 5207 South Harper Ave., Hyde Park Labs is the South Side of Chicago’s first commercial, purpose-built advanced R&D lab building. Standing 13 stories and spanning more than 300,000 square feet, the building was delivered earlier this summer and features nine full floors of Class-A lab and office space, ground-level retail, Southside STEM Station, and four levels of above-grade and below-grade parking. The facility also includes 40,000 sq. ft. of tenant amenities, including a fifth-floor terrace dubbed “The Lawn,” featuring grills, firepits, views of Lake Michigan, and direct access to the interior tenant lounge. Additionally, Hyde Park Labs offers private terraces on every floor, secure on-site bike storage, an indoor bar and lounge, and an executive boardroom.
“We’re thrilled that Hyde Park Labs is able to support UChicago’s continued expansion needs, and we look forward to supporting more organizations in need of state-of-the-art lab space to advance scientific innovation,” said John Carlson, Principal with TCC in Chicago.
Dan Lyne and Brandon Green of CBRE represented Beacon and TCC in lease negotiations.
