CHICAGO (AP) - Illinois Republicans are reviving plans to sell and redevelop the James R. Thompson Center, claiming their proposal for the 16-story Chicago building housing state employees could generate hundreds of millions of dollars.
Crains Chicago Business reports (https://bit.ly/2k82e2Y) Republican leaders Sen. Christine Radogno and Rep. Jim Durkin will introduce legislation to sell the building designed by architect Helmut Jahn. Their pitch has sketches, including one for a 1,700-foot tower, which would become Chicago’s tallest. It’d house shops, residences and a hotel.
Republican Gov. Bruce Rauner first announced plans to sell in 2015, calling the building inefficient.
State officials estimate $326 million in deferred maintenance and say selling could generate net proceeds of $220 million.
Still, many steps remain and questions linger, including structural issues. Major city train lines run under the building.
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Information from: CRAIN’S CHICAGO BUSINESS.
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