(rshsdepot) Union Station - Chicago, IL

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From Crain's Chicago Business.
 
Bernie Wagenblast
 
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Jones Lang LaSalle wins bidding to  redevelop Union Station 


By: Alby Gallun  
A joint venture led by Jones Lang LaSalle Inc. has won the bidding to  
redevelop part of Union Station into a hotel, condominiums, office and retail  
space. Jones Lang LaSalle and a company headed by two former executives at the  
Chicago-based real estate firm plan to redevelop about 500,000 square feet of  
vacant former railroad offices in the West Loop building and build an 18-story  
tower on top of it. The project would cost about $250 million.  
Amtrak, which owns the building at Clinton, Canal, Jackson and Adams streets, 
 has agreed to enter into exclusive development negotiations with the Jones 
Lang  LaSalle joint venture. An Amtrak spokesman declined to say when the 
agreement  expires or identify other parties that participated in the bidding.  
Completed in 1925, Union Station was supposed to include a high-rise under  
the vision of its original designer, famed architect Daniel Burnham. Mr.  
Burnham’s successor firm, Graham, Anderson, Probst and White, completed the  
building’s design after Mr. Burnham’s death in 1912. Jones Lang LaSalle is  teaming 
up on the project with Youssefi-Scott Development Co., a development  firm 
founded by Hossein Youssefi, a former Jones Lang LaSalle executive, and  Stuart 
Scott, the firm’s former chairman and CEO.  
“Our goal is to perpetuate Burnham’s historic vision for Union Station and 
at  the same time create a state-of-the-art, mixed-use facility that includes 
office  space built for the 21st century,” Mr. Youssefi said in a statement 

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The Railroad Station Historical Society maintains a database of existing
railroad structures at: http://www.rrshs.org

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