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Although [Michael Rumman] said anything's possible, he doubted the Thompson Center will come tumbling down anytime soon.
"I think ultimately the economics of razing a building of that magnitude don't make that much sense. Even though those inquires have come in, I don't expect those to be the viable options," Rumman told reporters.
He also said there's been no contact by Donald Trump, who's pushing downtown skyscraper plans and is linked to casino proposals. Rumman said potential buyers have ranged from banks to retirement funds to individual investors.
SPRINGFIELD - Some potential buyers of the Thompson Center in downtown Chicago are interested in tearing it down to build something else, state officials said Thursday.
While the teardown phenomenon is nothing new to the suburbs where McMansions sprout up amongst bungalows almost daily, demolishing an opulent 17-story office center at the corner of Clark and Randolph would take the practice to an unprecedented level.
In May, the governor and lawmakers agreed to sell the Thompson Center, tollway headquarters in Downers Grove and other property to raise $230 million to help balance the state budget. Options range from an outright sale, to the state selling the building to get cash now but continuing to lease office space and eventually buying it back.
Illinois Central Management Services Director Michael Rumman said all options remain viable, and he acknowledged interest has been shown in the land but not the building. Rumman's agency oversees state property.
State Rep. Terry Parke, a Hoffman Estates Republican, said he has heard developers want to build condos on the site. Parke co- chairs a committee that examines economic issues such as the building sales.
Although Rumman said anything's possible, he doubted the Thompson Center will come tumbling down anytime soon.
"I think ultimately the economics of razing a building of that magnitude don't make that much sense. Even though those inquires have come in, I don't expect those to be the viable options," Rumman told reporters.
Rumman would not say who the potential buyers are, but did say the dollar figure was on target and that the transactions should be completed this budget year.
He also said there's been no contact by Donald Trump, who's pushing downtown skyscraper plans and is linked to casino proposals. Rumman said potential buyers have ranged from banks to retirement funds to individual investors.
The $172 million building - which includes furnishings - was dedicated in 1985 and renamed in 1993 after former Gov. James R. Thompson.
Copyright Paddock Publications Nov 21, 2003