Columbia To Build $21M Center in South Loop

CHICAGO-Columbia College Chicago is buying a city-owned, 39,700-sf parcel of land at the southwest corner of 16th and State streets for $200,000. The Chicago City Council approved the sale at its Sept. 10 meeting, and the college expects to close on the South Loop property later this fall. The college is expected to begin construction on a $21 million media production center on the site in early 2009, with an opening planned for spring 2010.

“We were particularly happy to get this property, given the value of property in the South Loop,” a spokeswoman for the school tells GlobeSt.com. “We thought we may have had to build something further away from our central campus, but this property emerged. We got a very nice price from the city of Chicago.”