University of Illinois System Offices Agenda Approve Acquisition of Property at 250 S. Wacker Drive 2026-02-04

The University of Illinois Board of Trustees Executive Committee approved a Purchase and Sale Agreement with South Wacker Chicago Real Estate Holding, Inc. to acquire the 16‑story office building at 250 S. Wacker Drive in Chicago for $23,750,000, including broker commission. The property will serve the Discovery Partners Institute, with additional construction investment of $36,250,000 planned and funding from State capital appropriations.