Chicago’s old main post office to sell

March 17, 2016

Note: Chicago’s old main post office is adjacent to Chicago Union Station and hosts unused track space formerly used for mail cars

 

By Corilyn Shropshire and Kim Janssen, Chicago Tribune

Perhaps the third time’s the charm for a redevelopment of the old main post office.Website Insert Call Me State DOTs copy

The British owner of the behemoth building straddling Congress Parkway has announced a deal to sell the property to New York-based investment group 601W Cos. for an undisclosed amount.

The deal, facilitated by global real estate brokerage Savills and its wholly owned North American subsidiary Savills Studley, could redevelop the vacant, 2.5 million-square-foot property into offices, residences, stores and possibly a hotel, according to Savills’ consultant Richard Sykes, who represented British developer Bill Davies. Sykes said the deal, which includes an additional 7.5 million square feet in planning entitlements, is expected to close in 90 days.

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