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HSBC Chooses Itasca for $95M Office BTS

ITASCA, IL-HSBC-North America will be consolidating five locations in Elmhurst, IL; Wood Dale, IL and Franklin Park, IL into the new facility.

By Gina Kenny | Updated on July 28, 2008

ITASCA, IL-HSBC-North America has signed a lease for a 304,000-SF build-to-suit office facility in the Hamilton Lakes business park at the northeast corner of Thorndale Avenue and Route 53. The term of the lease is 15 years. The amount of HSBC-North America’s investment will be $95 million, and the company will receive a $14.2 million incentive package from the state of Illinois, according to a release from the Illinois Department of Commerce and Economic Opportunity.

Elaine Melonides and Dan McCarthy, both with Jones Lang LaSalle, represented HSBC-North America in the lease transaction. Melonides, McCarthy and Meredith O’Connor worked with the state to obtain the incentive package. The incentives are part of the state’s Opportunity Returns program, according to statement.

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