12-Story Chicago Office Building Eyed for Data Center Conversion

An office building in Chicago, Illinois, is being considered for conversion into a data center. Local media, including ABC, report that the Permit Review Committee of the Commission on Chicago Landmarks has given initial approval to plans to convert part of the 300 West Adams Building into a data center. According to city filings, the project would include a new ComEd vault, data center equipment on floors two through six, and backup generators on the roof. The proposal will now go before the full commission. Built around 1972, the 12-story building spans approximately 240,000 sq ft (22,296 sqm).

It was designated a Chicago Landmark in 2009. The Chicago City government describes the building as an example of the high-rise office construction that defined the city’s 1920s building boom. Adams RE MGMT LLC is listed as the owner in the application filings, while local real estate developer Igor Gabal is leading the redevelopment project.

Gabal acquired the building in 2023 for just $4 million. A Morgan Stanley-managed entity sold the property after taking control of it in 2021 through a foreclosure agreement involving a venture of Pennsylvania-based Alliance HP. The building had previously sold for $51 million in 2012. The Real Deal and other outlets report that Strategic Value Partners recently partnered with Gabal on the planned conversion of 300 West Adams. Chicago is one of the major data center markets in the US. GI Partners and Legacy Investing are also working on a similar project in the city, converting a former stock exchange building into a data center.