The JRTC is located in Chicago’s “Loop,” one of the City’s 77 designated community areas, which serves as the heart of the City’s central business district. The Loop is home to many corporate offices, government buildings, educational institutions, and is also one of the fastest-growing residential downtowns in the United States.
The site is bound by Lake Street on the north, by Clark Street on the east, by Randolph Street on the south, and by LaSalle Street on the west.
The State of Illinois (State), through CMS, has been reviewing its downtown Chicago real estate portfolio to identify opportunities for efficiency improvements, space consolidation, and other strategies that produce real savings while maintaining a productive workforce. The JRTC is larger than necessary for the State’s operations and its sale represents the fiscally responsible approach for the State. This provides a unique opportunity for the State to optimize its real estate portfolio, maximize taxpayer savings, enhance workforce and workplace performance, and facilitate economic development. The State intends, through this procurement, to seek competitive proposals and ultimately enter into a Purchase and Sale Agreement with the selected Developer for the property.