(WBBM NEWSRADIO) — A famous, if much-maligned, office building in Chicago’s Loop will not be demolished.
Gov. JB Pritzker Wednesday announced the $70 million sale of the James R. Thompson Center to Prime Group, doing business as JRTC Holdings, L.L.C., fronted by Mike Reschke, for $70 million.
Illinois government for years has been trying to unload its poorly maintained property, in large part to raise money.
The possibility that new owners would raze the structure by the late architect Helmut Jahn has riled preservationists. Reschke said the unconventional building at Randolph and Clark isn’t going anywhere but will be revived as a mixed-use redevelopment.
“There was a lot of talk over the years about actually demolishing the building,” Reschke told a news conference, “which would be a travesty. An absolute travesty.”
He said the glass exterior would be clad with a new “curtain,” which will help hold down energy costs and give people on the inside a clearer view than they have now.
What’s more, another “curtain” will keep noise from the atrium away from the office space, he said.
Gov. Pritzker said the state plans to buy back about a third of the space for its use. He said the sale has the blessing of the late Gov. James R. Thompson’s family.
Renovations would occur within the next year, the developer said.
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