Investor Reveals Big Plans For Old Post Office

The plan revolves around a building that would surpass the Willis Tower in height

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    NEWSLETTERS

    TK

    The old Chicago Main Post Office is about to get a facelift.

    That's the hope of Bill Davies, the investor who acquired the post office in 2009 and contracts on adjacent property. He hopes to use the space as a launch pad for a 20-acre development to expand the downtown area, according to The Chicago Sun-Times.

    The plan revolves around a central building that splits into two towers, reaching 120 stories, which would surpass the Willis Tower as the tallest building in the country.

    That wouldn't be the only skyscraper to be added to Chicago's skyline. Davies also is proposing six other high-rises, ranging from 60- to 80-stories, that would be residences or hotels. Major retail and entertainment would be included, as well.

    The complex would be more than 17 million square feet, which is about four times more than Willis Tower. The price tag on the investment? $3.5 billion.

    Davies, a successful property investor, has seen the execution of other developments fall apart overseas.