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The state of Illinois has executed a purchase and sale agreement with the buyer of the James R. Thompson Center in Chicago's Loop

Pritzker Administration Issues RFP for Sale of Thompson Center

The State of Illinois on Monday issued an RFP for the sale of the James R. Thompson Center at 100 W. Randolph St. in downtown Chicago. The Illinois Department of Central Management Services determined that selling the 1.2-million-square-foot office property was in the state’s best interest.

“The sale of the Thompson Center has been discussed for nearly 20 years and we are taking another important step to making it a reality,” said Gov. JB Pritzker. “Selling the property provides a unique opportunity to maximize taxpayer savings, create thousands of union jobs, generate millions of dollars in real estate taxes to benefit the City of Chicago and spur economic development.”

Due to prolonged deferred maintenance and delayed capital projects, it’s estimated that the cost to bring the 36-year-old Thompson Center into a state of good repair exceeds $325 million currently. It’s projected to increase to more than $525 million by 2026.

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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).

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