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Old Posted Dec 15, 2021, 5:56 PM
galleyfox galleyfox is online now
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Cool CHCAGO | Thompson Center redevelopment | Jahn's MASTERPIECE will be saved!!!!!!!!!!!

State in deal to sell Thompson Center
Pritzker announced that the state has entered into exclusive negotiations with the Prime Group to sell the building, a move that the governor said would save taxpayers $800 million.

After reviewing two final bids, our team has entered into exclusive negotiations" with the team that would also "honor the original design of the building."

The new majority owners will pay $70 million upfront and intend to develop a "state-of-the-art mixed use building" with executive offices, retail, and hotel space. "The design is truly stunning," Pritzker said.
Michael Reschke of the Prime Group said demolishing the building would have been "a travesty."

"We concluded that office was still the highest and best use. We look at the problems that have plagued this building since 1985 when it opened. Those problems, we found, were very manageable," he said, even opportunities.
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