These developers bought the CBOE building in downtown Chicago for $12 million in June 2024, with the idea of turning it into a datacenter.
They were smart, visionary, and secured more power from Com Ed by applying for a long term deal three years ago, when they were still negotiating for the building, and just before the current AI datacenter craze.
Since everyone wants data centers, it’s now a long process to secure power contracts, so they increased the value of the property.
Now, they flipped the building to another company that wants to build a datacenter for $40 million!
https://www.chicagobusiness.com/commercial-real-estate/former-cboe-hq-lasalle-street-sold-data-center-firm?share-code=17613393242971665-19a1821474e&utm_id=gfta-ur-251024
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