Chicago Post Office Sells for $130M, Buyers Plan $500M Redevelopment Project

CHICAGO — International Property Developers North America (IPDNA) has sold Chicago’s Old Post Office and adjacent sites to 601W Cos. for $130 million. The new owners have unveiled plans for a five-year, $500 million redevelopment of the sprawling building. The conversion will turn the 2.7 million-square-foot building into office space and will add a three-acre rooftop park, outdoor cafes, event space, a fitness center, basketball and paddle tennis courts and a quarter-mile running track. The redevelopment, to be conducted in three phases, is slated for completion in 2018. HFF represented 601W Cos. in the transaction, and Savills represented IPDNA.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties