Chicago’s Thompson Heart sells for $70M; developer reveals makeover plans for iconic constructing

CHICAGO (WLS) — After years of speak, Gov. JB Pritzker introduced Wednesday that the state has reached a deal to promote the James R. Thompson Heart, certainly one of Chicago’s most recognizable buildings.

The CEO of the developer that can purchase the Thompson Heart revealed renderings exhibiting what’s being known as a “daring plan” to protect and renovate the enduring downtown constructing with a 17-story atrium, regardless of the issues with heating and cooling which have plagued it for the reason that constructing opened in 1985.

“These issues we discovered had been very manageable,” mentioned Michael Reschke, Chairman and CEO The Prime Group. “And really the issues with the constructing actually grow to be the alternatives to make this constructing iconic and particular.”

The governor known as the deal one of the best one for taxpayers. The state would keep a 30% possession stake.

“The Prime Group shall be buying the Thompson Heart for $70 million up entrance and, simply as importantly, this sale alleviates taxpayers of over half a billion {dollars} in crucial deferred upkeep prices on this constructing,” Pritzker mentioned.

SEE ALSO | Thompson Heart redesign contest concepts embody resort, buying heart, waterpark

The plans name for redoing the outside with a brand new curtain wall with floor-to-ceiling power environment friendly home windows. There can even be a number of ranges with out of doors terraces.

“Truthfully, have a look at how lovely that is, so the reply is, it really is a gem,” Pritzker mentioned.

The centerpiece would be the new atrium, which the developer likens to the Gardens of Babylon.

“It will be the jewel of the constructing and hopefully the jewel of the constructing and the place the place vacationers to the town of Chicago need to come and have a photograph,” Reschke mentioned.

SEE ALSO | Thompson Heart architect Helmut Jahn killed in Campton Hills bike accident

Structure teams are praising the choice not solely as a result of it preserves the enduring constructing, however as a result of the Helmut Jahn Agency which initially designed the Thompson Heart goes to do the renovation.

“I am ecstatic that the Thompson Heart goes to be saved and it should be saved actually, a lot of what we see the precious elements of it at the moment – that central atrium that we love, the form the conical form of that constructing,” mentioned Lynn Osmond, President and CEO Chicago Structure Heart.

The household of former Gov. Jim Thompson, for whom the constructing was named, additionally gave their blessing to the plan.

The $280 million greenback makeover requires retaining workplace house and the CTA station, and it’ll stay open throughout renovations which might start inside 12 months and take about two years.