The Joffrey Ballet

March 22, 2005 – The internationally-renowned,

Chicago-based Joffrey Ballet is officially under contract to

sell the building it owns at 6 East Lake Street (at the

corner of State and Lake Streets) to the Environmental

Community Development Company (ECD). Representing some

48,000 sq. feet, the property was donated to The Joffrey by

Commonwealth Edison Company, a unit of Exelon Corporation,

in May 2000. The sale is being handled by Burton Friedman

of Friedman & Bass.

“When Commonwealth Edison donated the building five years

ago, it was The Joffrey’s intention to convert the structure

into a multi-use facility incorporating rehearsal space for

the company and administrative offices for the staff, for

the first time combining all operations under one roof,”

explained Joffrey Ballet Executive Director Jon H.

Teeuwissen. “In the years following this generous gift, The

Joffrey explored several creative solutions that attempted

to fit adequate rehearsal studios within the physical

limitations of the existing footprint, including expanding

over the adjoining property at 10 East Lake. However, after

numerous feasibility studies revealed the extent of

financial commitment that would be involved in such a

redevelopment, it was determined that the company would be

better served using funds from the property sale to retire

accumulated debt and pursue other options for a permanent

home.”

The Joffrey Ballet currently occupies space in two rental

properties: a 12,000-square-foot rehearsal studio at 218 S.

Wabash Avenue, and administrative offices at 70 E. Lake

Street. The company signed a lease to relocate its

rehearsal studio to 17 N. State Street, in a deal arranged

by Steven Joseph and Bill Main of Gibraltar Real Estate. The

company will occupy the new space in July, which at 17,000

sq. feet, marks a 45% increase in rehearsal space for the

company—notably, open space which is not hindered by

internal building columns as is the Wabash studio.

“The sale of the building and the rental of more adequate

rehearsal space are important steps in a multiphase project

to secure a permanent home for the Joffrey Ballet in

Chicago. Over the course of the rest of this year, we will

make final decisions about the long term location of the

Joffrey’s studios and administrative offices. It is very

exciting to be able to anchor our world class ballet in this

world class city,” added Pamela Strobel, Joffrey Ballet

Board Chairman.

ECD plans to develop a dynamic retail destination and an

innovative hotel property on the site, at the north-east

corner of State and Lake Streets. ECD Company is based in

Lincolnshire and is a diversified real estate development

company which specializes in developing complex mixed-use

properties that contain a combination of retail, office,

restaurant, entertainment and hotel uses.

The Joffrey Ballet will present its spring program,

Accent Arpino, April 27 – May 8 at the Auditorium Theatre of

Roosevelt University, the company’s Chicago performance

“home” since Summer 2003. The company will proudly launch

its 50th Anniversary season in October 2005.

For more information on The Joffrey

Ballet and its 2004-2005 Season, please visit

www.joffrey.com or call 312.739.0120.

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