Sunday, August 30, 2009

Chicago’s Old Post Office Auctioned

Chicago’s former Main Post Office Building sold at auction late last week for $40 million, or about $13 a square foot according to Bloomberg News.

In an article that appeared on the New York Times website it was reported that the suggested opening bid was $300,000 for the 14-story, three-million-square-foot property.

The buyer did not disclose its plans for the building which was once the largest mail facility in the world. A variety of use had been suggested including a casino.

The article cites a report by the General Accountability Office which said it would cost about $2 million a year to maintain the Chicago property.

The lobby and exterior of the building, which was completed in 1932, are protected by landmark status.

Shown above, a postcard from the 1930s showing the "new" Post Office.

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM