Purchase Price for Former McDonald's Headquarters Revealed

OAK BROOK, IL — A self-made billionaire and entrepreneur who co-founded Paul Mitchell hair products, the House of Blues night club chain and Patron tequila purchased the 80-acre site that formerly housed McDonald's global headquarters in Oak Brook for $40 million, according to real estate documents filed last week with the DuPage County Recorder of Deeds. The Doings reports John Paul DeJoria of JPD Oak Brook Holdings LLC has not yet reveled his specific plans for the property. The property once housed McDonald's Hamburger University training facility, a Hyatt Lodge hotel and former campus office building.

Real estate firm JLL has been working with McDonald's representatives since 2008 to find a buyer for the site, according to the Daily Herald. McDonald's moved its global headquarters to Chicago's West Loop in June 2018, according to the article.

• Billionaire Buys Former McDonald's Headquarters in Oak Brook
  

The $40 million purchase price was not initially released but was included in an Illinois Real Estate Transfer Declaration filed June 7 with the DuPage County Recorder of Deeds, The Doings reports. And while the exact purpose for property is not yet known, Perry Higa, senior vice resident of NAI Hiffman, who represented DeJoria in the purchase, said there are plans to use it for a commercial office, corporate meeting space, training and for other possible commercial users, according to the article.

“Everyone acknowledges the significance of the property, both in the culture and history of McDonald’s as well as the village of Oak Brook,” Higa said.

More via The Doings and the Daily Herald