* CMS…

The Illinois Department of Central Management Services (CMS) has adjusted the deadline for Request for Proposal (RFP) submissions for the sale of the James R. Thompson Center (JRTC) to October 8, 2021. Several vendors interested in responding to the RFP have requested additional time to develop their proposals to reflect a number of positive developments that will impact pricing including the zoning change passed by City Council, memorandum of understanding with the Chicago Transit Authority, and a memorandum of agreement with the Illinois Department of Natural Resources. CMS released the RFP in May 2021 and the sale of the JRTC is scheduled to be completed by April 2022.

Only the RFP deadline has been altered. The scheduled sale date has not changed.

* Greg Hinz…

State officials familiar with the matter said the main reason for the RFP delay indeed is to give potential buyers more time to familiarize themselves with the complex site, which include a CTA transit station and direct connection to the city’s underground pedway system. They also noted a change in city zoning on the site since the RFP was issued, doubling to 2 million square feet the size of an office tower which could go on the property at LaSalle and Randolph.

However, officials also agreed the office market may be more fully recovered by next spring, something that could get the state a better price.

* I have yet to find anyone who can say it’s a pleasure to work in that building…