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Google Reportedly in Talks to Buy Thompson Center in Chicago’s Loop
Tech giant Google is in talks to buy the iconic Thonpson center located in Chicago’s Loop, according to The Block news service.
Opened in 1985, the startlingly designed circular building was built by legendary architect Helmut Jahn for the state of Illinois, which for years maintained the bulk of its Chicago offices in the building. But the avant-garde structure was plagued by problems and was hugely expensive to maintain, resulting in plans lately to demolish the center.
But the building has many fans, which helped prompt Illinois Gov. JB Pritzker to sell the Thompson Center for $70 million in March. Pritzker said the sale would save the state $800 million in operating costs.
The new owner, The Prime Group, said when it purchased the building that it would do a $300-million renovation of the structure, an effort that may now fall on Google if the tech giant does indeed buy the building.
- ◦Sale/Acquisition