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Standard Club Will Close, Hires CBRE to Market Property
Philanthropic organization the Standard Club has hired CBRE to market part or all of its 13-story building at 320 S. Plymouth Ct. for sale. In a statement, Standard Cub general manager Garth Walker said the 150-year-old nonprofit hoped to find a partner for a “synergistic business relationship.”
In a letter to members last year asking for additional financial support, the club cited “an aging infrastructure” and said it had “some significant capital needs.”
The Chicago Sun-Times reported that the club will close its doors on May 1 at 307 S. Plymouth, although the hope is to eventually reopen elsewhere. The current Standard Club building dates from 1926.
“The club has recently faced challenging business circumstances similar to those that have faced many urban private clubs in terms of membership, usage and revenue,” Walker said. “The board has come to the very difficult decision that club operations are no longer sustainable.”
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