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Building Department Consolidating, Moving to Near West Side Office

CHICAGO-Moving to 71,482 sf at 120 S. Racine Ave. takes the department of buildings out of the fifth floor at City Hall as well as 2240 W. Ogden Ave. The 10-year deal begins at $11.19 per sf but the first year's rent, totaling $800,000, is abated.

By Mark Ruda | Updated on September 29, 2005

(To read more on the net lease market, click here.)

CHICAGO-The city’s department of buildings will consolidate operations now on the fifth floor of City Hall and 2240 W. Ogden Ave. into 71,482 sf at 120 S. Racine Ave. A 10-year lease endorsed by the city council’s committee on housing and real estate calls for the city to pay $11.19 per sf, but get the first year’s rent totaling $800,000 abated.

In addition to the 71,482 sf of office space, the 91-year-old building has a 1,292-sf basement for storage, according to the department of general services, as well as 100 parking spaces. There is an option to cancel the lease after seven years.

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