Cook County is set to lease out arguably its most desirable property. Cook County is hoping that the move will enable it to pull in at least $1 million in rent on the unneeded office space, which is situated in the central Loop.
The top two floors of the George Dunne office building, which is located at 69 W Washington Street directly opposite Daley Civic Center Plaza and just a few steps away from the Thomson State Building and City Hall, could be on the market as early as the first half of next year, offering views which are reputed to be spectacular and with a floor plate offering 20,000 square feet of usable office space on the 35th and 36th floors.
There has been no final decision yet made regarding renting out the space, but Toni Preckwinkle, the president of the Cook County Board, is reported to be “strongly considering” featuring the plan in the brand new budget that she will be unveiling later in October. The pending move is said to be just one of a series of strategic and innovative attempts within the budget to cut expenses and raise much needed cash without having to put up taxes.
The space is currently being occupied by some of Preckwinkle’s staff members, but it seems there are very few people using the offices, with two big conference rooms left almost abandoned. Preckwinkle is said to be interested in charging $1 million per annum on a ten-year lease.