Pritzker closes on James R. Thompson Center sale

Pritzker closes on James R. Thompson Center sale
Pritzker closes on James R. Thompson Center sale(Pritzker closes on James R. Thompson Center sale)
Published: Jul. 27, 2022 at 2:16 PM CDT
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PEORIA (WEEK) - Gov. JB Pritzker and the Illinois Department of Central Management Services transferred the James R. Thompson Center to an LLC known as JRTC Holdings, LLC. The building will be home to a new Google office. Google and JRTC Holdings, LLC have a build-to-suit agreement. The center sold for $105 million.

“This transformative agreement will save our taxpayers nearly a billion dollars over the next thirty years – and further Chicago’s reputation as one of the great tech hubs not just of the United States, but of the world,” said Pritzker. “I want to thank Google and the Prime Group for investing in their future by investing in ours. Together, we are bringing a 21st century vision for the LaSalle Street corridor to life.”

“The Thompson Center gives us a presence in the central business district, enabling us to get in on the ground floor of revitalizing the Loop with its unparalleled access to public transit, which is so important to today’s hybrid workforce,” said Karen Sauder, President of Global Clients and Agency Solutions and Site Lead of Google in Chicago. “This will help our business, our product development and create a great environment for our employees. We’re proud to continue being an active part of Chicago’s diverse and vibrant community.”

The building is located at 115 S. LaSalle. Goggle will move in once the building is renovated. The renovations are reported to take up to 18 months.

“When we bid to acquire the Thompson Center, we were committed to transform the building to be a world class office building with the best available building components, systems and technology,” said Michael W. Reschke, Manager of JRTC Holdings, LLC and purchaser of the Thompson Center. “With one of the top locations in downtown Chicago, we knew after the planned renovation that the iconic building would attract world class tenants. These transactions are transformative for the State and the City and will create key anchors for the future success of Chicago’s downtown district and LaSalle Street for many more generations.”

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