A recently refurbished office site in Chicago, Illinois, might be pivoted to data center use amid a slow rental market.As reported by Crain’s, the owners of 801 South Canal Street are looking to repurpose some or potentially all of the site from office space to data center use.
Landlord 601W spent some $265 million renovating the 683,000 sq ft (63,400 sqm) building, now known as Canal Station, but has reportedly struggled to fund leasers in a tough rental market and is having difficulty refinancing the site.
Further details of the data center plans have not been confirmed. The site is adjacent to a substation.
601W purchased the six-story building in 2019 for $68 million and renovations began in early 2021. Telos Group has been marketing the site for office use...
Further details of the data center plans have not been confirmed. The site is adjacent to a substation.
601W purchased the six-story building in 2019 for $68 million and renovations began in early 2021. Telos Group has been marketing the site for office use...
RSK: No mention of the cost factor to do the rehab or what kind of income stream they can expect if they do this. The land may be worth more just as a vacant piece.
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