The Building That Wouldn’t Die is poised to start its second life.
A couple of days before Christmas, the developers trying to resuscitate Chicago’s massive, menacing, moldy Old Main Post Office were given a half a billion dollars to start construction on their proposal to turn the lumbering landmark into a thriving mixed-use complex.
This is the second loan the 601W Companies has been given by JPMorgan Chase. The previous one was for $90 million, which was used to stabilize the crumbling building. This new loan replaces the smaller one, and will allow the developer to turn Gensler’s plan into a reality.
According to BizNow, the money will be use to replace all 2,400 windows in the 2.4 million square foot building, finish work on the facade, and upgrade both the electrical and HVAC systems. That work should be completed by the end of 2018.
Gensler’s revitalization plan for the Post Office building includes office space for 12,000 people, plus sports facilities, event space, cafes, and retail space. Now, if only there was a large Seattle-based e-tailer looking for a second headquarters…