International Property Developers North America (IPDNA), the North American investment and development vehicle of British developer Bill Davies, has decided to mail in its efforts to develop the historic Old Main Post Office site in Chicago's West Loop solo and is now accepting offers to buy or form a joint venture in its ownership and development.
On behalf of IPDNA, Savills Studley is working to line up international, national and local investors interested in the massive 2.7 million-square-foot building and surrounding land parcels.
IPDNA acquired the 12.6-acre site, which is now fully entitled for more than 10 million square feet, back in 2009 for $25 million, though prospective buyers can expect an asking price north of $150 million. The site has since been assembled and master-planned with revised entitlements that allow for immediate development...CoStar: International Property Developers N.A. Makes Historic Old Main Post Office Site Available
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