Chicago Relocation
 

See Saw Post Office Sale Closes in Chicago

October 21, 2009

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As reported today in Crain’s Chicago Business, the Old Post Office (see story last month) has finally been SOLD to the original buyer!

Two month’s after British developer Bill Davies agreed to fork over $40MM for the property, the deal has been closed. Sources say the 3 million SF property that leapfrogs over I-290, one of Chicago real estate’s most recognizable buildings, was actually sold for much less than the agreed-upon price, but the exact amount was not revealed.

Crain’s reported that “We are excited that this historic landmark now enters the redevelopment phase, and we look forward to seeing it contribute to the growth and vitality of downtown Chicago after many years of vacancy,” according to Tom Samra, USPS’s vp of facilities, “We wish the new owners of this property the best of luck in their efforts.”  

 

 

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