May 16, 2016
601W Cos. struck a deal to acquire and redevelop the Old Main Post Office near downtown Chicago. The investment group will launch a $500 million renovation plan, that will feature offices, outdoor cafes, events space, and a sports and fitness center.
The crumbling edifice on Van Buren Street has been a bone of contention between the city of Chicago and former owner Bill Davies. The 2.5-million-square-foot structure has been vacant since the mid-1990s.
The first phase will correct building codes and restore the facade. The second phase will see systems and elevators installed, while phase three will focus on renovating the historic lobby.