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“We are excited that this historic landmark now enters the redevelopment phase, and we look forward to seeing it contribute to the growth and vitality of downtown Chicago after many years of vacancy,” said Tom Samra, vice president of facilities for the Postal Service.
Old Main Post Office sold for $17 Million, less than half original bid
suntimes.com - 4 weeks ago - 267 views
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Organizations: Post Office | U.S. Postal Service
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What's the purpose of an auction, FrusZe? What happened to the Chinese investor bid?
Darned if I know. The entire sale makes no sense to me...
Too funny. Some of the commenters here pretty much predicted this outcome. So...same buyer, half the price. Yow. I still say in the end it will just be torn down, many millions of dollars later.
Isn't that crazy? I remember reading that the runner up from the first time around was planning on placing a lowball offer. I guess the guy figured he could place a second bid that was just ahead of them! Clever.
Will this British buyer do what he's done before in another English city: acquire another post office, fail to develop the property & then dump it back on the market? Published reports suggest as much.
Pretty good strategy on Davies part. Way to go USPS. Yet another good reason why the government sucks at doing pretty much anything. Bring on that healthcare!
You can hear the anguish seeping through in that one...
When I was a kid, riding through the post office on the Eisenhower Expressway was going through the portal from banality to the magic of downtown Chicago. It's really sad to see it now as a dead hulk. I had some fun experiences there when I was an adult, like the time I snagged a lady's wig as the wind was blowing it toward the river. She was very thankful, bald, and embarrassed.
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