Three Chicago educational institutions partnering to build the nation’s largest multi-college residence hall have selected U.S. Equities Realty as property manager for the 1,700-bed facility, scheduled to open in fall 2004.

The firm will begin work immediately on a five-year contract to operate the University Center of Chicago (UCC), a $150 million, 18-story residence hall under construction in the South Loop on the southeast corner of State Street and Congress Parkway.

“U.S. Equities is the premier building operations company in Chicago and offered the greatest expertise in providing comprehensive physical plant and property operations for this facility,” said Kenneth A. McHugh, president of the Educational Advancement Fund (EAF), a nonprofit organization created by Columbia College Chicago, DePaul University and Roosevelt University to develop the project.

Two dozen of the nation’s leading property and campus facility management companies were invited to respond to a request for proposal to manage this first-of-its-kind project, McHugh said.

“U.S. Equities looks forward to bringing our real estate expertise and our dedication to improving the life of our city as we manage the UCC. The building will provide an exciting residential environment for students in an urban setting combining convenient, top-quality housing and wide-ranging cultural live/learn opportunities in the heart of downtown Chicago. We know that,each school already has its own culture, and the students who will live in the UCC will create a fourth and distinct culture through shared experiences,” said Katherine Scott, Managing Director at U.S. Equities.

In addition to dormitory rooms, the UCC will offer 31,000 square feet of street-level retail space designed to attract services sought by students and neighbors. The building also will feature a 30,000-square-foot food-service operation, along with student amenities including a fitness center, multimedia rooms, meeting rooms, lounges, music practice rooms, art rooms, game rooms and laundry facilities. The third floor includes a 20,000-square-foot landscaped rooftop garden for students’ enjoyment.

Chicago-based U.S. Equities Realty is a leading full-service real estate firm active nationally and internationally. The company oversees a 40 million-square-foot portfolio including several facilities for the School of the Art Institute and approximately 200 Chicago public schools, as well as major downtown and suburban office properties. The company serves as strategic real estate advisors to clients throughout the United States and in South America, providing development, program management, build-to-suit and construction oversight services; management and leasing; tenant representation consulting and advisory services; and acquisition, disposition and financing of real estate assets.

Architects for the project are Antunovich Associates, with VOA Associates Inc. Turner Construction Company is the general contractor, while Chris P. Stefanos Associates and WMA Consulting Engineers, Ltd., provided engineering services.

Media Contacts:

Sharon L. Burge, U.S. Equities, 312/456-7102

Micki Leventhal, Columbia, 312/344-7383

Robin Florzak, DePaul, 312/362-8592

Tom Karow, Roosevelt, 312/341-3512