Friday, January 13, 2006

HSBC Holdings PLC Signs Long Term Lease for New HQ Near Chicago

Chicago Sun Times - January 10, 2006

HSBC Holdings PLC said Monday it has picked the Lake County town Mettawa as the site for its new corporate headquarters. HSBC, which owns the Household Finance operation, said it will move to 28 acres along Interstate 94 starting in early 2008. The move will let the company consolidate about 2,400 workers now at four locations, the biggest of which is the current headquarters at 2700 Sanders Rd. in Prospect Heights. HSBC, which also operates the Beneficial brand, has about 6,100 employees in the Chicago area.

Spokeswoman Anita Black said HSBC signed a 13-year lease with a renewal option for the northwest corner of I-94 and Town Line Road. Itasca-based developer Hamilton Partners owns the empty site and plans a 440,000-square-foot building for HSBC. Black said the company is moving to put its work force together and because it needed modern space. Other company locations to be phased out after the move include two in Mount Prospect and one in Deerfield, she said.

With ample space available in a sluggish suburban leasing market, many developers wooed London-based HSBC. The company said it evaluated more than 50 locations in Lake and northern Cook counties. Sphere: Related Content

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