Illinois Gov. JB Pritzker, Google and Chicago-based Prime Group have announced a deal for the tech giant to buy the 17-story James R. Thompson Center in the Loop central business district.
The Thompson Center, named for a former governor, has housed state government offices since it opened in 1985. The state agreed last year to sell the center to Prime for $70M, with Prime announcing it would undertake a $300M renovation to include a makeover for the iconic glass façade of the high-profile building, which is shaped like a large sail.
As part of last year's deal with Prime, the state agreed to occupy 427K SF of the Thompson Center and said it would either buy back the building after the renovation or lease it for $258M with a 30-year lease term.
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