CHICAGO (WBBM NEWSRADIO) -- A Chicago City Council committee approved a zoning change that would allow the State of Illinois to make it easier to find a buyer for the Thompson Center downtown.
The City Council Zoning Committee approved a proposal to return the Thompson Center property back to its original zoning, before the state built the center in the 1980s. It allows for denser development.
Downtown Alderman Brendan Reilly, 42nd Ward, introduced the zoning change ordinance at the request of Governor JB Pritzker.
“This amendment does not approve a new project, nor does it allow for the demolition of the current property,” Ald. Reilly said. "...I had spent time with Helmut Jahn discussing potential, adaptive reuses for this building and I would encourage developers to strongly consider those."
Governor Pritzker recently announced his plans to sell the Thompson Center and the State of Illinois put out a request for proposals earlier this month.
“Selling the property provides a unique opportunity to maximize taxpayer savings, create thousands of union jobs, generate millions of dollars in real estate taxes to benefit the City of Chicago, and spur economic development,” Pritzker said.
Ald. Reilly said the Thompson Center is currently costing taxpayers nearly $17 million in annual maintenance, operating costs, and lost city property tax money since no property taxes are paid on it.
“Redeveloping this site, whether it’s by preservation, adaptive reuse or new construction would end its tax-exempt status and bring this entire city block onto the city’s tax rolls,” Ald. Reilly said.
The full City Council will vote Wednesday on the zoning change.
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