Chicago Federal Building On New GSA List Of Properties Slated For 'Accelerated Disposition'  
   
   
 

Nearly three weeks after the General Services Administration posted a list of 443 properties planned for disposition — and then promptly took it down — the agency has put up a new slate of buildings in its place.

The original noncore asset page, which for the past few weeks read “coming soon,” now lists eight properties that it says are slated for “accelerated disposition.” This includes the William O. Lipinski Federal Building in Chicago, where the federal government takes up 353K SF. 

The Lipinski Building is the national headquarters of the U.S. Railroad Retirement Board.

 
 
Bisnow/Emily Wishingrad
 
   
 

The GSA didn't give any indication as to what it means by an “accelerated timeline.” In its FAQ answer about how fast the buildings could sell, it detailed the GSA’s typical disposition process: offer an asset for use by any federal agency, and if it is still considered unneeded, dispose of it through a public benefit conveyance, negotiated sale or public sale.

Read more about the updated list.

— Ryan Wangman

 
 

Today's Rundown

 
 

Bank OZK Takes Another Write-Down On Sterling Bay Loan: The bank wrote down almost $17M on its loan to a subsidiary of the Chicago developer Sterling Bay for a section of the land at the Lincoln Yards megadevelopment just months after recording a roughly $21M charge-off on the same loan. Read more

Contractors Brace For Higher Costs As Deportation Fears Fester On Work Sites: Deportation fears have become a reality at job sites in Chicago and elsewhere. Locally, immigration and civil liberties advocates based in the city are suing federal authorities over the allegedly illegal arrests of 22 people in the Midwest. Read more.

 
 

What Else Is Happening?

 
 
$500M Spa Resort Chooses D.C. Site For First U.S. Location $500M Spa Resort Chooses D.C. Site For First U.S. Location
 
   
 
L+M Sues Bank For Refusing To Take Keys To Rent-Regulated Apartments L+M Sues Bank For Refusing To Take Keys To Rent-Regulated Apartments
 
   
 
Trump's Trade War Tests Canada's Longtime Obsession With U.S. Assets Trump's Trade War Tests Canada's Longtime Obsession With U.S. Assets
 
   
 
Family Office Of Elie Tahari Hires Cushman Exec To Launch Brokerage Arm Family Office Of Elie Tahari Hires Cushman Exec To Launch Brokerage Arm
 
   
 

The Finish Line

 
 

Do you smell the chalk in the air? The first weekend of March Madness is in the books, and with it, all of the tournament’s underdog dreams have been crushed to a fine dust. ​​This year marks the first NCAA Tournament without a team seeded 11th or worse in the Sweet 16 since 2007, according to OptaStats. Hopefully this means your bracket is in good shape and you’re still in the running for eternal bragging rights over your friends and family.

The Chicago Rundown is written by Chicago Reporter Ryan Wangman and edited by Central Editor Katharine Carlon. If you enjoyed today’s edition, please share and forward with anyone you think might find it interesting. We’d also love your feedback and news tips: ryan.wangman@bisnow.com.

 
   
   
   
   
   
 
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