Case Studies

 

Transaction Details

Client
The Big Ten Conference

Property
5440 Park Place
Rosemont, IL

Transaction Size
44,500 square feet

Transaction Type
Build-to-Suit, Headquarter Relocation

Industry

The Big Ten Conference Builds New $20 Million Headquarters

 

Client Situation

The Big Ten Conference, the oldest Division I collegiate conference in the United States, needed to address the growth of their operations and evolving brand identity. After operating for 20 years in their Park Ridge headquarters, in 2010 they selected Savills Studley Chicago to help them embark on a strategic planning process. Their top priority was to enhance the experience of everyone already interacting with the conference – from coaches, players and university executives to refs, alumni, and fans.

We investigated all possible real estate scenarios, including expanding their current building, leasing office space in nearby suburban Chicago submarkets and/or acquiring another existing standalone building. After thoroughly vetting each scenario, we determined that developing a customized headquarters facility was the best way for the Big Ten to meet all of their objectives.

Consideration Analysis

Building a new state-of-the-art headquarters was a significant undertaking, from site selection and land acquisition through construction. It took extensive planning and negotiation by the Savills Studley team to coordinate multiple projects simultaneously while working around the material and logistical complexities, time restraints, and financial limitations.

The team’s interaction with the Village of Rosemont played an important role in the Big Ten’s decision to build their new headquarters at MB Financial Park. Our client secured prime corner property in the park, plus the right to display a highly visible 2,000 square-foot exterior sign along the very busy I-294 expressway. Another outcome of the negotiation was that Rosemont brought Fogo de Chao steakhouse to the first floor of the headquarters, making the property even more attractive to visitors and residents.

Along with managing collaboration among an unusually high number of stakeholders, Savills Studley had to shepherd a “fast track” construction process to avoid the worst of the Chicago winter. Fast tracking meant that the various teams had to problem solve seven days a week to complete the facility in just over a year, including finishing the Big Ten Experience museum’s interior space. Given the complexity of the project and the number of constituents involved, proactively facilitating the highest level of collaboration was the lynchpin of success.

Result

The end result for the client was a new 50,000 square-foot, $20 million headquarters – twice the size of their previous location. This unique, built-to-suit development is a poster-child for the power of collaboration. Not only did Savills Studley facilitate stakeholder cooperation through a challenging construction project, but the team communicated regularly with the Village of Rosemont, ultimately ensuring that the Big Ten development would also benefit the local community.

It was most important to our client to enhance the experience of those interacting with the conference. The new location achieves this while greatly improving accessibility for visitors, employees and the nearly 5 million alumni of the conference. The ultra-modern building is ideally located for access to O’Hare, as well as hotels and restaurants. The complex easily accommodates current full-time employees with ample room for growth as the conference continues to expand. This, along with the museum showcasing the history and highlights of the conference, will serve to increase traffic to both the restaurant and surrounding Rosemont businesses.

 

Meet the Team

Richard B. Dale
Corporate Managing Director, Project Management Services

Rich joined Savills Studley in 2000 to head the Chicago Project Management Services Group. Previously a vice president and Region Team Leader with Jones Lang LaSalle, Rich’s team managed a variety of projects totaling over two million square feet. Since 2000, Rich has managed more than 2.5 million square feet and total project costs exceeding $275 million. Rich has spent more than 18 years in the real estate industry and has personally managed over four million square feet of projects across the country for prominent clients such as Aon Corporation, Ernst & Young, Holland & Knight, Towers Perrin, American Red Cross and Braun Consulting.

+1 312 595 2938

 

Robert Sevim
Vice Chairman, Co-Head Chicago Region

In his real estate career, Robert Sevim has executed over 15 million square feet of transactions valued at more than $10 billion. With an exceptional client roster including News Corporation, UnitedHealth Group, The Big Ten Conference, Aetna and Exelon, Robert has developed a reputation for solving the complex real estate challenges of organizations spanning many geographies and property types. He is a dedicated advisor to a broad spectrum of business types, ranging from technology startups to Fortune 1000 corporates, where sophisticated business acumen is highly valued and critical to project success.

+1 312 595 2952

 

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