Developer to Part Ways with Old Post Office, Puts It Up For Sale

[Photo via Flickr user Teemu008]

Consider this a case of return to sender. British developer Bill Davies, whose titanic struggle to develop the behemoth downtown Old Main Post Office, is apparently giving someone else a shot, Crain's reports. While Davies turned down a relatively generous offer from Sterling Bay shortly after their partnership fell apart, the old Art Deco post office is now fair game. Savills Studley, the U.S. affiliate of London-based Savills, is lining up interested buyers, which will likely need to spend north of $150 million to purchase and more than $2 billion to develop the site.

Once the center of an ambitious plan to erect a 120 story skyscraper at the site, the property is now represents 10 million square feet of potential, presenting national and international developers alike with one of the biggest development opportunities in Chicago. While the city is home to a hole in the ground that serves as an object lesson in the possible fate of lofty plans, the Old Main Post Office, with massive uninterrupted floor plans and incredible history, offers retail, commercial and residential opportunities the city may never see again. What do you think belongs on the site?

·Old Main post office up for sale [Crain's]
·There's Been Yet Another Setback for the Old Main Post Office [Curbed Chicago]
·Previous Old Main Post Office coverage [Curbed Chicago]