Redevelopment Plans Gain Unanimous Endorsement from Chicago Plan Commission
July 18, 2013
On July 18th, International Property Developers, in collaboration with Antunovich Associates, presented plans for the redevelopment of the old Chicago Main Post Office to the Chicago Plan Commission. Detailing a multi-phased approach that would redevelop the 1930's Neo-Classical structure into a new mixed-use urban hub, the project drew a unanimous vote of endorsement from the Commission.
Phase 1 of the project will begin with the restoration and conversion of the north portion of the Post Office into new residential units. The initial residential conversion will be followed by the completion of Phase 1 of the redevelopment plan, which includes the implementation of 800,000 sf of retail space, 400,000 sf of office space, 2,500 additional residential units, and 320 hotel rooms throughout a new adjacent retail center, a 1000' tall mixed-use tower, and within the remainder of the existing building. While this first phase could be completed within 7 to 10 years, additional future phases would also allow for the construction of two additional towers at the heights of 1000' and 2000'.
Located at the nexus of the Eisenhower Expressway, multiple train lines, the south branch of the Chicago River, and the ever-growing south-loop and west-loop neighborhoods, the site is situated to become a bustling hub of shopping, entertainment, and residential activity and to bring life back to what was once one of the most magnificent structures in the nation."
ABC 7 - New Plans for Old Post Office aim to be ‘marvelous’
ABC 7 - New Plan Presented for Old Post Office Building
Chicago Sun Times – Work to redevelop old Chicago Post Office could start in September
New Plans for Old Post Office Submitted December 2012
February 9, 2013
Joe Antunovich of Antunovich and Associates carrying the Project through Planning, unveiled new plans to the City in December of 2012. Planning Permission expected Spring 2013.
Redevelopment Vision for Historic Chicago Post Office
July 21, 2011
July 21, 2011, Chicago, IL – International Property Developers today filed its plans with the city of Chicago and Chicago Plan Commission for the master planned development of the historic Chicago Post Office and adjacent properties. Located near Congress Parkway and the Chicago River, the 10-year redevelopment vision will transform 20 acres of Chicago's southwest loop into an urban mecca integrating retail, entertainment, residential, office and hotel space.
"Achieving ownership of the former post office was incredible but working with our team over the last two years identifying neighboring parcels and outlining this vision has been nothing short of spectacular," said Bill Davies, Chairman of International Property Developers. "This is not just about one building, one street or one block. This is about vision in what we can achieve and confidence in achieving that vision in one of the greatest cities in the world."
Davies added, "Years ago, there were those who doubted the museum campus and those who doubted Lakeshore East or Millennium Park. I would challenge any cynic to look to those developments and then tell me this can't be done. I am confident that with the correct focus and energy and by working in partnership with this great city, that we will achieve our goal."
Plans call for a 3-phased development to include: 6.2 million square feet of retail, leisure and entertainment space; 4.1 million square feet of hotels (7,500 rooms total); 2 million square feet of office space; and 3.8 million square feet of residential space, totaling 16 million square feet. In addition, the project would feature 12,000 parking spaces free to retail shoppers, a renovated river walk and a 20 acre roof garden and park.
Total investment is expected to be $3.5 billion and will create 12,000 construction jobs over the 10-year development. Thousands of permanent jobs and millions in tax revenues will mean significant economic benefit for the city and the region. "This is vision unlike any Chicago has seen in recent history," explained Laurence Booth, Principal of Booth Hansen Architects and project architect. "Chicago stands as a renowned international city today because visionary leaders like Daniel Burnham made no little plans more than a century ago."
International Property Developers expects to begin construction within 90 days of city approval.
"We look forward to working with our city leaders from Alderman Fioretti to the Mayor's office," stressed Martin Mulryan, Project Manager for International Property Developers. "This is a very exciting opportunity."
Old Chicago Post Office
July 19, 2011
On June 9, 2009 the United States Postal Service put the Old Post Office up for auction. The Auction was held on August 27 and conducted by Rick Levin & Associates Inc., with an opening bid of $300,000.
The acquisition was finalized on October 21, 2009, by William (Bill) Davies the owner of International Property Developers North America Inc.