Google on Tuesday announced it intends to buy the iconic James R. Thompson Center building in Chicago’s Loop.
Google plans to convert the Thompson Center into a Class A environmentally friendly office building.
The cost of the existing unrenovated building is $105 million.
Google will occupy the Thompson Center once renovations are completed.
”We anticipate occupying the Thompson Center starting in 2026,” Google said in an announcement.
”The Thompson Center will provide employees with unparalleled public transit access as the only building in the city where six L train lines converge, easily connecting Chicago’s South, West and North sides.”
The tech sector’s economic impact in Chicago has been significant. The city has become a global tech hub generating new jobs and top talent. A recent economic impact study shows creating one high-tech job generates another 4.4 jobs in the local economy.
In 2020, Google’s employees in Chicago supported over 4,600 indirect jobs in Illinois, for a total economic impact of $2 billion.