“The federal government has narrowed its strategy for reducing its real estate footprint, naming eight properties it wants to sell in the near future, including one in Chicago that’s been on the market since 2023.
“The latest list of federal real estate assets posted by the General Services Administration is much shorter than the 443-property portfolio the organization said it was potentially selling in early March, as part of the Trump administration’s broad push to shrink the size of the federal government. The original list was taken down less than a day later.
“Now, the GSA says it is “accelerating the disposition” of eight office properties, including the William O. Lipinski Federal Building at 844 N. Rush St. in Chicago, as well as buildings in Georgia, Maryland, Missouri, New Jersey, Tennessee and Texas.
“The agency announced in 2023 it would begin the process of selling the Lipinski Building, a 15-story, 353,105-square-foot tower that houses the U.S. Railroad Retirement Board. The initial list of properties the GSA said it was considering putting up for sale earlier this month had identified 11 buildings in Chicago, not including the Lipinski Federal Building.
Preservation Chicago would like to see the profits generated from the sale of the Lipinski Federal Building / Railroad Retirement Board Building used to restore the terra cotta on GSA owned Century and Consumers Buildings located at 202 S. State Street and 220 S. State Street in the heart of Chicago’s Loop.
Read the full story at Crain’s Chicago Business
- Trump shrinks list of federal buildings for sale — but one Chicago property remains, Rachel Herzog
- Federal government shifts strategy to accelerate disposal of office properties; Agency posts list of buildings containing over 2 million square feet it seeks to unload incrementally, Jonathan Lehrfeld, CoStar News, 3/24/25
- Federal government putting Rush Street offices up for sale, Danny Ecker, Crain’s Chicago Business, 11/10/23
- Rush St. federal building to be renamed after William Lipinski, Chicago Tribune, 9/24/2009
- William O. Lipinski Federal Building, U.S. General Services Administration