ROSEMONT, ILL.—The Big Ten, the oldest Division I college athletic conference, has signed a purchase and development agreement for a 1.5-acre parcel in Rosemont that will house its new, 50,000-sq.-ft. headquarters.
The Big Ten, advised by theoffice of Studley, explored several real estate opportunities, including leasing and purchase options, before choosing a build-to-suit option.
At 50,000 sq. ft., the Big Ten’s new headquarters will be twice the size as its current location at 1500 West Higgins in Park Ridge, where it has been located for two decades.
The new facility will include a conference center, office space and an officiating command center. In addition, plans call for a 3,500-sq.-ft. high-tech interactive area. The building is being designed to attain LEED certification. Delivery is scheduled for October 2013.
Located within MB Financial Park at Rosemont, a development featuring several hotels and restaurants, the Big Ten will have direct access to a variety of park amenities and O’Hare International Airport.
Studley Executive Managing Director Robert Sevim, along with Managing Director Jon Azulay served as the Big Ten’s exclusive real estate advisors while Corporate Managing Director Rich Dale will spearhead project management on theside, working in conjunction with RATIO Architects and Leopardo construction.
Official closing is set for late August at which time the Studley team will begin marketing the Big Ten’s current 25,000-sq.-ft. headquarters building in Park Ridge for sale.
Founded in 1896, the Big Ten Conference is an association of universities whose member institutions share a common mission of research, graduate, professional and undergraduate teaching and public service. Big Ten universities provide in excess of $100 million in athletic scholarship aid to more than 8,700 men and women student-athletes.