Home / Business / A day after offered city’s Old Main Post Office, Bill Davies dies – Chicago Sun

A day after offered city’s Old Main Post Office, Bill Davies dies – Chicago Sun

British genuine estate noble William “Bill” Davies died Friday, a day after shutting a understanding to sell Chicago’s ancestral aged Main Post Office building, a former worker pronounced Saturday.

Davies, 82, had been ill for several weeks before a sale of a long-closed building that straddles Congress Parkway in a West Loop, according to Vicky Flores, who ran a Chicago bureau of Davies’ International Property Developers.

Davies was hospitalized in Barbados some-more than a month ago after pang “some arrange of stroke,” Flores said, though had returned to London in new weeks.

Flores pronounced she didn’t know how concerned Davies was in shutting a understanding to sell a building to 601W Companies. Mayor Rahm Emanuel announced a understanding late Thursday after melancholy to use a city’s energy of venerable domain to seize a property, that Davies never followed by on grand skeleton to redevelop given shopping it for $24 million in 2009.

“He unequivocally wanted to rise that building and move income into a city,” Flores said. “It was unequivocally weird, a timing. Everything was sealed off, and afterwards we listened he had died. It was like he waited until all was taken caring of.”

Soon after winning a behest for a building, Davies announced what he described as a $3.5 billion devise to reconstruct and enhance a 2.5 million square-foot white elephant.

But Flores pronounced he never found financing for his grand vision, that enclosed a contingent of complicated skyscrapers flanking a Art Deco structures of a Old Post Office.

The 95-year-old building — a bumbling relic to times when Sears and Montgomery Ward done Chicago a nation’s mail-order collateral — had been empty given 1996, after a U.S. Postal Service changed out. It continued to slip into decrepitude, and city inspectors released Davies countless citations for formula violations.

Chicago's Old Main Post Office, that was close down in 1995, has remained a bumbling white elephant straddling Congress Parkway ever since. Sun-Times record photo

Chicago’s Old Main Post Office, that was close down in 1995, has remained a bumbling white elephant straddling Congress Parkway ever since. Sun-Times record photo

In February, Emanuel threatened to seize a skill — whose run and floors widen dual city blocks — in an bid to force Davies out in preference of another developer.

Soon after, Davies began operative with 601W, a New York owners of Chicago’s Aon Center and Prudential Plaza.

Emanuel pronounced Thursday that 601W had sealed a understanding to buy a Post Office and would start a $500 million reconstruction to spin a cavernous building into bureau space.

Davies, whose authorised chateau was in European tax-haven of Monaco, desired Chicago and spent several weeks any year in a city traffic with contractors and perplexing to tempt investors, Flores said.

“He unequivocally enjoyed a city,” she said. “When he saw a building, he pronounced he only had to have it.”

Though he never done good on his vision, she said, “He was unequivocally frank in his skeleton for a building.”

The post office,  433 W. Van Buren St., non-stop in 1921. A vital expansion, finished in 1932, done it a largest building in a world. It measures 2.7 million block feet.

When a postal use close it down, it changed to a new trickery south of a building.

Article source: http://chicago.suntimes.com/news/a-day-after-selling-old-post-office-developer-bill-davies-dies/

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