The University of Chicago and HSA Commercial are bringing Five Guys Burgers and Fries to the Hyde Park neighborhood.
Michael Havdala, senior vice president, and Kelsey Blindt, associate, of the Retail Brokerage division, HSA Commercial Real Estate, said that Five Guys has leased space at 1454 East 53rd Street. The new location is scheduled to open in summer 2011 and will be Five Guys’ fifth in Chicago at that time.
The building, located at the northwest corner of 53rd Street and Harper Avenue, is owned by the University, which has acquired commercial real estate properties in Hyde Park as part of an on-going effort to revitalize the Hyde Park commercial corridor in collaboration with the community and city officials. The storefronts along 53rd Street and the adjacent theater building have been targeted for adaptive reuse by the University to attract retail, restaurant, entertainment and office tenants to the area.
“Since Five Guys is a national restaurant tenant with only a few locations in Chicago, their selection of Hyde Park is truly significant,” said Kelsey Blindt. “It indicates that national retailers recognize that there are unmet needs among the residents, students, and employees in Hyde Park.”
The 3,423-square-foot corner retail space is still available on the ground level, along with approximately 5,600-square-feet of leasable retail/office space on the second floor. The adjacent 16,400-square-foot, multi-level theater building is also available for retail and entertainment uses.
HSA Commercial represents the University of Chicago in the leasing and management of these buildings. HSA Commercial’s Mark TeGrootenhuis, senior vice president of development, will serve as project manager in the adaptive reuse. Steve Frishman, principal and vice president, and Brian Adams, sales associate, with Mid-America Real Estate represented Five Guys in the transaction.