REQUEST FOR PROPOSAL February 18, 2009 Mr. Jack Rosenberg Mr. Frederick Regnery Colliers Bennett & Kahnweiler Inc. 6250 North River Road Suite 11-100 Rosemont, Illinois 60018 RE: 801 N. Schmidt Road Romeoville, IL Dear Gentlemen: Thank you for the opportunity to earn Ulta Salon, Cosmetics & Fragrances, Inc. (“Ulta”), business at 801 N. Schmidt Road. The following outlines the terms and conditions under which Duke is prepared to move forward: SPACE REQUIREMENTS: DUKE RESPONSE:

Approximately 310,000 - 325,000 SF 320,244 square feet

OFFICE: DUKE RESPONSE:

Approximately 10,000 SF Please provide a per square foot allowance for the office build out. Please provide documentation defining “base” office finishes intended by Landlord. Landlord will provide an allowance of $505,000 for 10,000 square feet of office area and the office – warehouse separation wall. See attached information on Landlord’s base office finishes.

OCCUPANCY:

February 1, 2010

Ulta’s Proposal 02/18/09 DUKE RESPONSE:

Proposed Schedule Lease Execution April 1, 2009 Design Concludes April 15, 2009 Bid & Award May 8, 2009 CD’s May 22, 2009 Permit Received June 12, 2009 Construction Complete September 1, 2009 Lease Commencement October 1, 2009 Rent Commencement July 1, 2010 or September 1, 2010

LEASE TERM DUKE RESPONSE:

Option A: 10 years Option B: 5 years Option A: 10 years, 11 months Option B: 5 years, 9 months

RENTAL ABATEMENT: DUKE RESPONSE:

Please specify. Ulta has a current lease obligation until April 30, 2010. Rent will commence July 1, 2010 or September 1, 2010.

RENTAL RATE: DUKE RESPONSE:

Please specify Option A: 10 years, 11 months Months 1 – 11: $0.00psf, gross Months 12+: $3.15psf, net 2% annual increases Option B: 5 years, 9 months Months 1- 9: $0.00 psf, gross Months 10+: $3.30psf, net 2% annual increases

OPERATING EXPENSES: DUKE RESPONSE:

Please provide a detailed itemization including any management fees. Estimated 2009 Expenses CAM $ .16 psf Insurance $ .05 psf Management Services $ .12 psf Association Dues $ .01 psf

Ulta’s Proposal 02/18/09 TAXES: DUKE RESPONSE:

Please specify current year taxes as well as an estimate of fully assessed taxes. 2009 Estimated Taxes: $0.62 psf When fully assessed in 2011, taxes are estimated at $0.90 psf annually.

UTILITIES: DUKE RESPONSE:

The leased premises will be independently metered for all utilities. Agreed.

BUILDING IMPROVEMENTS: DUKE RESPONSE:

• • • • • • • • •

Restrooms for 350 employees (total for two shifts). 65% of the workforce is female. 30’ clear ESFR sprinkler system, with minimum 1500 GPM electric pump, per FM Global data sheets, with addressable class A, supervised multi-zone alarm system. 10 trailer spots Restrooms for 350 employees will be provided in the office allowance. Remote warehouse restrooms are provided by Landlord, as shown on the site plan. 30’ clear at the lowest point. ESFR sprinkler systems, with minimum 1500 GPM electric pump with addressable class A, supervised multi-zone alarm system. 10 trailer spots against the building as shown on the site plan. Landlord has also included an allowance of $40,000 for life safety requirements. This is only an allowance as a detailed warehouse layout is required to accurately estimate these expenses.

Ulta’s Proposal 02/18/09 ASSIGNMENT/SUBLETTING: DUKE RESPONSE:

Tenant shall have the right to assign or sublet all or a portion of the demised premise to any subsidiary or affiliate without Landlord’s consent. Any other assignment or subletting will be subject to Landlord’s prior consent, which shall not be unreasonably withheld. Agreed.

ROOF AND STRUCTRUAL AND MECHANICALS: DUKE RESPONSE:

Landlord shall be responsible for roof, structure, and foundation. Landlord shall deliver all building mechanicals in good working order. Landlord shall warrant all building systems for a minimum of one year. Agreed.

WAREHOUSE LIGHTING: DUKE RESPONSE:

277W Fluorescent Energy Efficient lighting with plug-in cords, minimum 36 foot candles, at 36” (AFF). T8 fixtures with motion control on approx 50% of lighting. Landlord will provide this lighting utilizing 380 T-5 fixtures, 50% with motion control, based on an open layout.

LOADING DOCKS: DUKE RESPONSE:

Minimum 30 truck docks, with 9’ x 10’ doors, bollards, mechanical levelers (52,000 lb. ANSI capacity), reciprocating hook type dock locks, L-Pad truck seals, and Phoenix lights. 30 – 9’X10’ dock doors with 35,000 lb. levelers, seals, bumpers, lights and Z channel guards. See attached information for dock lock and seal specifications.

POWER: DUKE RESPONSE:

• • • •

2000 amps, 480 volt, 3 phase Electric for 25 battery charging stations, with associated ventilation and eyewash station including an acid neutralization basin, and drain. The building has 1,600 amps of 480/3-phase electrical service. Landlord has included an allowance of $80,000 for 25 – 13 amp battery charging stations, to be located within 50 feet of the existing electrical service.

Ulta’s Proposal 02/18/09 WAREHOUSE AND OFFICE PLANS: DUKE RESPONSE:

At this time, please provide full size plans Agreed.

CEILING HEIGHT: DUKE RESPONSE:

30’ clear height Agreed.

PARKING: DUKE RESPONSE:

Please specify. A minimum of 200-car parking is required. 200 car parking spaces are provided.

SECURITY DEPOSIT: DUKE RESPONSE: LIMITATIONS:

Please specify. Upon review of Tenant’s audited financial information, Landlord will determine the amount of security deposit required. This proposal is extended to Ulta for a period of 30 days and is subject to prior leasing. It is contingent upon the review of Tenant’s financials, approval of the building owner and all terms and conditions of our standard lease document.

Duke is the low-risk provider. We will deliver this building for your client. We look forward to your positive response and the opportunity to earn your business. Duke Realty Corporation

Susan E. Bergdoll Vice President – Industrial Development and Leasing cc: Mr. Larry Johnson, CBRE Mr. Mike Mangan, CBRE