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Developer Buys More Land Near Old Main Post Office
New York-based 601W purchased a 4.5-acre industrial space in the 700 block of S. Desplaines St. – not far from Chicago’s Old Main Post Office, which the developer is renovating into office space in hopes of attracting Amazon’s HQ2.
601W acquired the land and the vacant warehouse on it for $34 million, financed through a $24.5 million loan. It marks the developer’s latest purchase of real estate surrounding the 2.8-million-square-foot old post office. It also recently obtained a parking lot at 527 S. Clinton St., across from the post office facility, for $10 million.
The company is taking control of the area surrounding the post office to develop complementary properties, and ensure other unwanted development doesn’t intrude on the site.
601W purchased the Desplaines Street site from St. Louis-based Ascent, which bought the land five years ago intending to build a data center.
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- ◦Sale/Acquisition
