Rauner Wants to Sell Thompson Center

From Governor Bruce Rauner:

ICYMI: Legislation Refiled to Sell Thompson Center

Selling building could net state taxpayers $220 million; generate $45 million in property taxes for the City of Chicago

The following is an excerpt of a story from Crain’s​:

Gov. Bruce Rauner and other Republican lawmakers are making a second run at selling and demolishing James R. Thompson Center in the Loop, which they say could add hundreds of millions of dollars to state and local coffers. […]

This time around, the state’s Department of Central Management Services is providing specific estimates of how much a sale of Thompson Center would boost the state’s finances. A sale would generate potential net proceeds of $220 million and would prevent the state from addressing $326 million in deferred maintenance on the building, according to CMS. […]

A sale and redevelopment of Thompson Center also would generate transfer taxes and future property taxes for local government, (House Minority Leader Jim) Durkin said.


Comments

Rauner Wants to Sell Thompson Center — 4 Comments

  1. This building is a white elephant with many structural problems and design deficiencies
    due to a very poor architectural planning and not worth the cost of repair,
    a taxpayer ripoff when built.

    Better of demolishing it a constructing a new building from the ground up.

  2. Honest Abe, I agree with everything you said.

    I would also add we do not want anything with Jim Thompson’s name on it.

    I hope his true history comes out.

  3. I used to board the el train in that building just about every day.

    It was a leaky, smelly dump.

    It’s entirely appropriate that the building was named after Jim Thompson.

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