The federal government's General Services Administration is paying more than $2.1 million for a 18,200-sf building at 212 S. State St. The GSA is spending $53 million Downtown for an expansion that could increase federal courthouse space by 1.5 million sf during the next 20 years. Meanwhile, the city is selling a 3,676-sf site at 174 W. Randolph St. for $1.2 million. A vacant, 17,500-sf building will be razed.
Both deals are expected to be approved by the city council this month.
A 75-space parking lot will be an interim use at 174 W. Randolph St. until Clovis Investments, LLC begins a mixed-use development involving that property as well as neighboring sites, at 178 and 180 W. Randolph St., it already controls. Joliet-based Clovis Investments has paid more than $3.2 million to acquire those two properties, which include a five-story, 47,900-sf office building.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
