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Board of Trade Building on Market

By Chuck Sudo in News on Jun 13, 2011 7:00PM

The Tribune reports today that CME (Chicago Mercantile Exchange) Group, owners of the Chicago Board of Trade Building, has hired Jones Lang LaSalle and Holly Duran Real Estate Partners LLC to market a sale of the classic Art Deco-style building.

CME bought the complex when it merged with the Board of Trade in 2007, a year after the Board of Trade completed a $22.6 million renovation of the building financed in part by a 12-year, $9.8 million Class L Cook County tax credit. CME moved into the east building, which it plans to keep, after the merger and spent $18.1 million for renovations. CME also received $15 million in tax increment financing to renovate the Board of Trade Building, CME's headquarters at 20 S. Wacker Drive and its offices at 550 W. Washington.

CME Group executive chairman Terrence Duffy made headlines last week when he announced the company was considering moving some of its jobs out of Illinois in response to the January increase in the corporate income tax rate.