Chicago & Midwest + Downtown + Office | July 27, 2022

Google will occupy and acquire the James R. Thompson Center in Chicago's Loop under a redevelopment agreement with the office building's current ownership

Google Will Acquire, Occupy Thompson Center in Chicago’s Loop

Google said Wednesday it would acquire and occupy the James R. Thompson Center in Chicago’s Loop for $105 million. The tech giant had been rumored as a possible buyer for the state office building at 100 W. Randolph St., designed by the late Helmut Jahn.

Gov. JB Pritzker said the deal finalizes a sale “that has eluded state government for decades.” Earlier this year, JRTC Holdings LLC, a venture of Prime Group CEO Michael Reschke, was announced as the buyer. The new deal entails a build-to-suit agreement between Google and JRTC Holdings to redevelop the building, which Google will ultimately buy.

“This transformative agreement will save our taxpayers nearly a billion dollars over the next 30 years—and further Chicago’s reputation as one of the great tech hubs not just of the United States, but of the world,” said Pritzker.

Google plans to occupy the renovated Thompson Center in 2026.

Photo courtesy of Jahn.

Connect

Inside The Story

Prime Group's Reschke

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints