Beacon Capital Partners and TCC Deliver Hyde Park Labs and Student-Focused Southside STEM Station in Chicago

Beacon Capital Partners (Beacon), a top real estate developer, owner, and manager of office and life science properties, and Trammell Crow Company (TCC), a leading commercial real estate developer, have delivered Hyde Park Labs in Chicago, Illinois. The partnership is also celebrating the opening of its STEM engagement center for local youth, known as Southside STEM Station, situated on the ground floor of Hyde Park Labs.

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 features nine full floors of Class-A lab and office space, ground-level retail, and four levels of above-grade and below-grade parking. The facility will include 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. Hyde Park Labs also offers private terraces on every floor, secure on-site bike storage, an indoor bar and lounge, and an executive boardroom.

The University of Chicago has already pre-leased approximately 55,000 sq. ft. at Hyde Park Labs. In addition to faculty research, the University space includes 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. Five UChicago-affiliated companies are among the incubator’s first tenants: memQ, Exactics, Signl, Cell Therapy, and Neuro Innovations. The University will also be hosting scientists from IBM who will be working with the new National Quantum Algorithm Center in the adjacent Harper Court building, home to the Chicago Quantum Exchange.

“Hyde Park Labs is poised to strengthen the innovation ecosystem that connects academic research with the private sector to the benefit of Chicago and beyond,” said UChicago President Paul Alivisatos. “Bringing together University of Chicago scientists and students with startups and established companies, it will serve as a powerful environment for advancing breakthrough ideas and accelerating their path to real-world impact.”

“We’re very excited to deliver this purpose-built life sciences project in Chicago’s Hyde Park neighborhood, alongside the University of Chicago as our anchor tenant,” said Fred Seigel, President and Chief Executive Officer, Beacon Capital Partners. “Hyde Park Labs will inspire groundbreaking innovation that will contribute to Chicago’s South Side community and burgeoning life sciences ecosystem.”

The Southside STEM Station officially opened on the ground floor of Hyde Park Labs on May 29, 2025. Benefitting from extensive community input early in the development process, this new learning hub offers free, quality hands-on STEM programs for students, families, and educators on the city’s South Side. It will feature in-school labs, after-school and summer programs, community events, and teacher professional development to foster inclusive STEM education.

“Among the many things that make Hyde Park Labs unique, we’re especially proud to include the new Southside STEM Station in our project,” said John Carlson, Principal at TCC Midwest. “Providing STEM education to South Side youth and sparking their interest in math and science is key to nurturing the next generation of innovators in our city.”

Dan Lyne and Brandon Green of CBRE are the exclusive marketing and leasing agents for Hyde Park Labs. Additional partners include Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa, and Trinal.