University News

Adler University Purchases
 Chicago Loop Campus 04.02.16
Adler University Purchases
Chicago Loop Campus
04.02.16

Adler University has completed purchase of its 100,796-square-foot campus at 17 North Dearborn in Chicago’s Loop—owning its own campus for the first time in the institution’s history.

The University closed on its $25 million purchase on March 28, and will now realize annual savings of $1.6 million in owning the campus space it has leased and occupied since 2010.

“This is a tremendous moment for our University community to own our own campus for the first time,” said University President Raymond E. Crossman, Ph.D. “Adler’s fiscal responsibility over many years to save for, invest in, and purchase this campus has now established a permanent asset for our institution and future generations of students.

“It also means Adler University has invested in Chicago as a permanent home, to continue advancing our work with our community, philanthropic, public- and private-sector partners to address inequities, provide for desperately needed human services, and advance social change.”

Founded in Chicago in 1952, Adler is a growing non-profit independent institution offering graduate degree programs for social change. The University enrolls more than 1,600 students through its Chicago, Vancouver, and Online Campuses. About half of those students are enrolled at the Chicago Campus. In addition to its degree programs uniquely focused on social change, Adler is known for its extensive partnerships with hundreds of community agencies through which students undergo practical training while providing critically needed services to underserved communities.

The University’s Chicago Campus is housed on two floors at 17 N. Dearborn, a 17-story tower built in 1905 and recognized until recently as home to Sears' flagship downtown store. In what became one of the Loop’s largest lease agreements in 2009, Adler executed a lease for space in the building with an option to purchase this year. The $13 million buildout for Adler’s new campus was financed through the building owner represented by MB Real Estate, a $6 million loan from MB Financial, and $1 million in cash.

Adler relocated to its new campus in August 2010. At an official grand opening in January 2011, Chicago Mayor Richard M. Daley joined more than 500 Adler alumni, faculty, students, staff, community representative and leaders from throughout Chicago and the nation to celebrate the new campus and Adler’s impact in Chicago.

Adler’s Chicago Campus was designed as an innovative urban campus and graduate learning environment to immerse faculty, students, and staff in higher learning, community, and collaboration. High-tech academic spaces are connected by multi-floor open atriums that serve as hubs to a mix of social, study, community learning and work spaces.

It also holds U.S. Green Building Council’s LEED Gold certification—the internationally recognized accreditation that represents the highest standards in indoor environmental quality and resource stewardship. Additionally, the campus was selected as a renovation leader in BUILDINGS’ 2011 Project Innovations Awards for its sustainable features and tech-savvy design that creates transparency between classrooms and corridors, including access to natural daylight that offers a sense of constant connection to the city of Chicago.

About Adler University

Adler University educates students to engage the world and create a more just society. Established in 1952, the University enrolls more than 1,200 students in master’s and doctoral programs for social change—through its campuses in downtown Chicago and Vancouver, and its Online Campus. Its mission is to continue the pioneering work of Alfred Adler, the first community psychologist, by graduating socially responsible practitioners, engaging communities, and advancing social justice.

Contact

Jeff Brennan
Associate Director of Media Relations
office: 312.662.4126 | cell: 312.771.0126
jbrennan@adler.edu