The former McDonald's headquarters campus in Oak Brook, IL.

OAK BROOK, IL—Billionaire entrepreneur John Paul DeJoria, co-founder of Beverly Hills, CA-based Paul Mitchell hair products line and The Patrón Spirits Co., has acquired McDonald's former 80.55-acre headquarters campus here.

Financial terms of the transaction were not disclosed for the complex that for decades served as the headquarters for McDonald's until the firm's relocation last year to approximately 470,000 square feet of space at Sterling Bay's 1045 W. Randolph St. in Downtown Chicago. McDonald's has been the sole occupant of the Oak Brook campus since its completion in 1988.

The headquarters campus includes the former McDonald's headquarters, which totals approximately 331,630 square feet and the former Hamburger University, which is approximately 130,484 square feet of training, corporate meeting space and office space. The complex also 741 covered parking spaces 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 has continued full operations since McDonald's moved to downtown Chicago. The hotel continues to book future events. Current zoning will allow additional commercial space to be developed on the site.

The 238,000-square-foot hotel building offers 26,000 square feet of meeting space, a grand ballroom, a covered indoor swimming pool and fitness facilities. The building, completed in 1984 and substantially renovated in 2012, is a four-level brick, stone and concrete building designed around a 150-year old Ohio Buckeye tree, the oldest in Illinois. The hotel is connected to the former Hamburger University by a pedestrian bridge across Lake Fred.

Perry Higa, SVP of NAI Hiffman, represented John Paul DeJoria in the transaction. Scott Miller and Lindsey Fahey of JLL represented McDonald's in the sale.

“The Village of Oak Brook was a longtime, respected home for McDonald's, and it's always been very important to us that we identify a trusted partner who realizes the future potential in the assets,” says Joe Endress, VP, facilities and systems, McDonald's. “John Paul is an iconic entrepreneur also known for giving back and we couldn't think of anyone better to lead the future of this landmark site that is extremely meaningful to the Oak Brook community,”

“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,” DeJoria says.

NAI Hiffman's Higa says 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 strategy 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, he notes.

“Everyone acknowledges the significance of the property both in the culture and history of McDonalds as well as the Village of Oak Brook,” Higa says. “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.”

McDonald's has been selling off pieces of its Oak Brook campus since its relocation to Downtown Chicago. Development firm Hines has received approval for a $500-million mixed-use development at McDonald's Plaza, on 22nd St., according to a report in the Chicago Tribune.

“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,” says David Carlin, president and CEO of the Greater Oak Brook Chamber of Commerce and Economic Development Partnership.

Instant Insights /

CA Billionaire Acquires Former McDonald's HQ Complex

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