Lettuce Entertain You Enterprises Signs Lease for New Restaurant Concept at 321 North Clark

(CHICAGO) – Hines, the international real estate firm, in a joint venture with Diversified Real Estate Capital, LLC (DRE) and American Realty Advisors (ARA), announced today that Chicago-based restaurant group, Lettuce Entertain You Enterprises (LEYE), has signed a lease for more than 38,000 retail square feet at 321 North Clark Street, an 896,502-square-foot, Class A office building undergoing a major renovation in Chicago’s River North.

321 North Clark Street will transform one of Chicago’s most prominent riverfront office towers into Chicago’s premier dining destination. The new restaurant and events venue, RPM on the Water, is slated to open in summer 2019.

R.J. Melman, president of Lettuce Entertain You, commented, “We are thrilled with the opportunity to reinvent one of the best riverfront locations in Chicago. River North has been a fantastic home to many of our restaurants, and we look forward to launching a great project at 321 North Clark Street.”

The dramatic four-level space cascades down to the Chicago River and will house three separate venues including an upscale bi-level restaurant, a private events space and a yet-to-be-named casual concept, all with outdoor areas and expansive views overlooking the Chicago River and city skyline. It will be the centerpiece of a complete renovation of the building in 2018, which includes a Goettsch Partners-designed lobby, an expanded fitness center and tenant lounge.

Greg Van Schaack, senior managing director at Hines, added, “We are ecstatic with this new restaurant concept by Lettuce Entertain You. Our tenants want to provide their employees with an outstanding office environment that delivers a modern workplace while providing a work/life balance lifestyle. The combination of the new restaurant and entertainment space with our building renovations will greatly enhance the environment for our tenants.” 

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

About Diversified Real Estate Capital, LLC

Diversified Real Estate Capital, LLC is a Chicago-based commercial real estate investment firm owned by Larry Levy, Michael Miller and Jeffrey Cherner. The company invests equity capital in prime real estate opportunities throughout the United States on behalf of ultra-high net worth family offices.

About American Realty Advisors

With more than $8.0 billion in assets under management, American Realty Advisors is a leading provider of commercial real estate investment management services. For over 29 years, ARA has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts. ARA acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding ARA can be found at www.aracapital.com.

Contact Hines

Headquarters

Global Headquarters

2800 Post Oak Blvd.
Houston, TX 77056-6188
United States
713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
312 419 4900

U.S. Southeast Region

5 Ravinia Dr NE
Atlanta, GA 30346
United States
770 206 5300
770 206 5325 fax

U.S. Southwest Region

609 Main St.
Suite 4400
Houston, TX 77002
United States
713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111-5894
United States
415 982 6200
415 398 1442 fax

Asia Pacific Region

101 California Street
Suite 1000
San Francisco, CA 94111-5894
United States
415 982 6200
415 398 1442 fax

Eurasia Region

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

International Offices

Australia

20 Hunter St
Level 10
Sydney, NSW 2000
Australia
61 2 9231 2167

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
São Paulo 04578-910
Brazil
55 11 5504 7600

Canada

200 King Street West
Suite 1805
Toronto, ON M5H 3T4
Canada
416 595 1949

China

Hyundai Motor Tower Suite 333
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855
8610 8453 9866 fax

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80
33 1 41 45 80 81 fax

Germany

Hardenbergstraße 28a
D-10623 Berlin
Germany
49 30 726241 100
49 30 726241 109 fax

Greece

Voukourestiou 19
Athens 106 71
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Block 2, First Floor
Clanwilliam House, Clanwilliam Place
Dublin 2
Ireland
353 1 7999900
353 1 7 999931 fax

Italy

Via Manzoni 5
Milan 20121
Italy
0039 02 8962921

Japan

Akasaka K Tower Level 4
1-2-7 Motoakasaka, Minato-ku
Tokyo 107-0051
Japan
81 90 9854 5236

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1
352 264 337 37 fax

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

The Netherlands

Naritaweg 165
Teleport
Amsterdam, NH 1043 BW
Netherlands
44 20 7292 1974

Nordic Countries

Nybrogade 12
Copenhagen 1203
Denmark
44 7815 285 191

Panama

Torre B Piso 15
Torre de las Americas
Punta Pacifica, Panama City
Panama
507 028 20 7375
507 300 99 75 fax

Poland

Prosta Street 68
Warsaw 00-838
Poland
48 22 351 2400
48 22 351 2401 fax

Russia

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00
7 495 785 05 10 fax

Spain

Sor Ángela de la Cruz, 2° - 2° C
Edificio Cuzco III
Madrid 28020
Spain
34 91 703 00 23
34 91 359 89 71 fax

South Korea

Glass Tower, Level 20
534 Teheran-ro, Gangnam-gu
Seoul 06181
Republic of Korea
82 2 2092 6500

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax