Honor the past. Inspire the future. Redefine destination. Welcome to Hyde Park.

One of Chicago’s most inclusive neighborhoods, Hyde Park has long captivated residents who relish the strong community pride found there, a pride deeply rooted in the area’s rich history and cultural relevance.

The ultimate one-stop destination, Harper Court has delivered 1.1 million square feet of retail, commercial, and residential real estate to the heart of Chicago’s Mid-South communities. The project offers a once in-a-generation opportunity to bring vibrant entertainment, dining, and shopping to the neighborhood while wholeheartedly embracing what makes Hyde Park so distinct.

Hoffman Strategy Group was contracted to develop a retail feasibility report and tenant mix analysis with forecasted sales by individual tenant. The report formed the foundation for  the retail planning and led to 96% off all leasable space being under contract by the time retail opened in October 2013. 

 

Our Findings

  • 217,248 residents
  • 86,106 employees
  • (daytime employee population) with $233 million retail  spending potential
  • 300,000 pedestrians
  • 15,194 UChicago students with $77 million retail spending potential
  • 3.4 million Hyde Park tourists and visitors with $533 million retail spending potential
  • $1.9 billion retail demand, $650 million retail supply, $1.2 billion retail spending gap
  • 1.4 million visitors to the Museum of Science and Industry

Outcomes

  • 82% pre-leased when construction began
  • 96% of total space leased at time retail started to open
  • Helped spur latest 16-story office and laboratory phase 2
  • University of Chicago sold stake for $112 million in 2014 after purchasing the property for $6.5 million in 2008
  • Multiple national retail anchors including LA Fitness, Chipotle, Starbucks
  • Annual property taxes growing to $2.1 million in 2016
  • Created 500 permanent retail and hospitality jobs

Media Coverage