As construction on the new McCormick Place Entertainment District chugs along, the Metropolitan Pier and Exposition Authority (aka McPier) has announced that it is now seeking a restaurant tenant to occupy the first floor of the historic American Book Company building at 320-330 E. Cermak. The landmark building, which as its name suggests, used to be a warehouse and distribution center for the American Book Company, will be incorporated into the new entertainment district, which includes a 51-story, 1,200-key hotel tower, a new data center and a 10,000 seat arena. According to McPier, the future tenant will have 10,000 square feet of space on the building's first floor, along with the possible opportunity to offer outdoor dining space as well.
According to the official Request for Qualifications, the building's renovation will be completed by this coming September, at which the restaurant tenant can begin their buildout. The authority, which operates McCormick Place, is targeting an August 1, 2017 opening for the new restaurant. However, the future tenant shouldn't look to McPier for any help with the cost of the buildout as the agency is placing that burden on the restauranteurs who will eventually take over the space. Restaurant owners and operators who are looking to take over the high-profile space will have to have plenty of cash on hand for the buildout, as McPier estimates the project to cost somewhere in the range of $3-5 million.
·Restaurant Development Opportunity [Metropolitan Pier and Exposition Authority]
·McPier Wants Landmark Book Company Building Included In McCormick Place Redevelopment [Curbed Chicago]
·Previous McCormick Place coverage [Curbed Chicago]
·Previous McPier coverage [Curbed Chicago]