Thursday, January 10, 2019

Chicago Metropolitan Agency for Planning (CMAP) is Third Tenant Committed to the Old Post Office

Maybe not the most high-profile company, but another tenant is heading to the Old Post Office (via Chicago Tribune):
Chicago’s regional planning agency is mapping out its future in a building from the city’s past.
The Chicago Metropolitan Agency for Planning said it will move its offices to 47,000 square feet of space in the former old main post office building in summer 2020.

CMAP signed a 15-year lease in the long-vacant structure at 433 W. Van Buren St., now called the Old Post Office, CMAP Executive Director Joseph Szabo said. CMAP will move out of about 51,000 square feet in the only building it has called home, 110-story Willis Tower, directly across the Chicago River from the vacant post office.

“Part of the value proposition is, as regional planners, we focus a lot on reuse and preservation,” Szabo said. “Going into the post office, at a significant cost savings, is very consistent with CMAP’s mission.”

CMAP has about 100 employees. The agency is focused on long-term regional planning, covering seven counties in the Chicago area.
CMAP joins Walgreesn (leasing 200,000 sq feet) and Ferrara Candy (leasing 77,000 sq feet).  If our math is correct, that means the office building is ~11% leased. 

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