Efforts to sell the Thompson Center have been working for years with the Pritzker administration, which says the state can no longer afford it.
A building on 100 West Randolph Street. Opened in 1985, it was designed by architect Helmut Jahn.
The buyer, Prime Group, will spend $ 280 million to redevelop the building. This building includes executive offices, conference centers, auditorium space, retail stores and hotel space. As part of the sale, some state offices will be relocated to the building after redevelopment.
This is an architectural rendering of the Thompson Center after a $ 280 million image change, which is expected to take two years. pic.twitter.com/5UBd5cXQTz
— Craig Wall ABC 7 (@craigrwall) December 15, 2021
Governor Pritzker’s office said the sale would save about $ 20 million annually over the next 30 years by reducing operating costs and consolidating leasing.
“Today, for the first time, we are proud to announce that we have taken a major step in planning to sell the Thompson Center and save taxpayers $ 800 million,” said Governor JB Pritzker. “I took office with the promise of more efficient management of state government resources and support for local governments. Chicago Public Schools and Property Taxes by Returning Important Real Estate in Downtown Chicago to Private Ownership. It brings tens of millions of income to people. This is a new era of responsible government in Illinois. It protects taxpayers and promotes suitable jobs and opportunities for working families. “
The refurbishment does not require the Thompson Center CTA station to be shut down.
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Governor JB Pritzker announces Chicago’s Thompson Center will be sold to Prime Group for $ 70 million
Source link Governor JB Pritzker announces Chicago’s Thompson Center will be sold to Prime Group for $ 70 million
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