ULTA Beauty, the largest beauty retailer of its kind in the United States, will open in Harper Court in 2013. Harper Court Partners, LLC, a joint venture between Vermilion Development and JFJ Development Company, recently executed the lease with ULTA Beauty for 8,890 square feet on the project’s first floor.
ULTA Beauty offers a unique combination of over 20,000 prestige and mass beauty products across the categories of cosmetics, fragrance, haircare, skincare, bath and body products and salon styling tools, as well as salon haircare products. The beauty retailer also offers a full-service salon in all of its stores.
"The addition of ULTA Beauty to Harper Court, along with the opening of AKIRA, represents an inflection point, signaling the entrance of fashion-oriented retailers into the Hyde Park neighborhood,” said Darrin Jolas, Director of Leasing & Development with Vermilion Development.
ULTA Beauty joins a growing list of ground floor tenants, including Park Tavern (a Restaurants-America concept with one location in The Park at Rosemont), Ja’ Grill (a Jamaican restaurant with a location on Lincoln Park’s Armitage Avenue corridor), Starbucks and Chipotle. The ULTA Beauty commitment brings the project’s total level of pre-leasing to 90.4%.
Construction on Harper Court will be completed in the summer of 2013. The project is led by developer Harper Court Partners, LLC, which teamed with the Canyon Johnson Urban Funds (CJUF), a billion-dollar real estate fund composed of a series of joint ventures between Canyon Capital Realty Advisors and Earvin “Magic” Johnson. Guided by the community, former Ald. Toni Preckwinkle and current Ald. Will Burns, Harper Court’s redevelopment was initiated by the City of Chicago and the University of Chicago.
"As this project draws closer to completion, Harper Court's promise is becoming a reality. We are building a sustainable retail destination for the mid South Side. I welcome ULTA Beauty and all of the retailers that have made the commitment to invest in our community. Their commitment is a validation of the vision and hard work of the City of Chicago, community stakeholders, residents, and other partners," said 4th Ward Alderman Will Burns.
In addition to the 12-story office tower that will be occupied by the University of Chicago, Harper Court’s first phase will include nearly 45,000 square feet of ground floor retail space, an LA Fitness and a Hyatt Place Hotel.
The redevelopment of Harper Court is part of a broader effort led by the University of Chicago to revitalize 53rd Street. ULTA Beauty joins a growing list of businesses expanding into Hyde Park, including the flagship store of the AKIRA fashion boutique; the New 400 Theaters; Chipotle Mexican Grill, The Promontory, Clarke’s and Five Guys restaurants; Kilwins Ice Cream shop; among others.