GreenMark Public Relations®, Inc.

With a green-conscious Chicagoan about to become president, new building initiatives and flourishing gardens, Chicago is leading the nation in crafting a sustainable future. A prime example of this is the Green Exchange, located in Logan Square on the city’s northwest side. Angela Caputo, of ProgressIllinois.com, writes “the Green Exchange is emerging as an example of how — with a little federal support, the backing of local officials, and some ingenuity — a revitalized economy could be just around the bend” (Nov. 11, 2008). Green Exchange is a new, sustainable office/retail complex set to open in Spring, 2008. It will host a variety of green tenants including businesses, shops, a cafe, day care center, bank, dry cleaner and other amenities. “What’s innovative about the project,” Caputo writes, “is its ability to harness the kind of public and private capital that researchers, economists and environmentalists say is key to cultivating a national green economy.” Incoming businesses will have access to a $500,000 loan pool, used for hiring and training workers. These low-interest loans are designed to help small business grow and create jobs despite the faltering economy. This investment alone allows for 58 jobs to be created. The article continues, using this model as an example for nationwide change: “…imagine what could be accomplished by investing billions across the nation.” According to The Center for American Progress, a $100 billion federal investment could create two-million green collar jobs in two years, the article states. Green Exchange’s Jennifer Schellinger said, “we want to show that something like the Green Exchange is possible in every state in the nation.” Find out more about the Green Exchange on our client page.

TheDailyGreen.com reported recently that future tenants of Green Exchange (2545 W. Diversey Ave. in Chicago) will benefit from lower occupancy costs as a result of Class L assessment legislation. The building now has local and national recognition from the Commission on Chicago Landmarks and the National Park Service, which lists the structure on its National Register of Historic Places. This means a 58 percent savings in real estate property taxes.

Before it was converted into the largest green business community in the country, the building of the Green Exchange was once home to Vassar Swiss Underwear Company and the Frederick Cooper Lamp Company. The four-story, 270,000 square-foot loft is being renovated according to LEED (Leadership in Energy and Environmental Design) Platinum standard. An HVAC system will allow for individual control of tenant spaces and increased comfort, a 41,000 gallon cistern will irrigate more than 15,000 square feet of vegetated roof and a “smart” escalator will use 30 percent less energy. The building will feature an 8,000 square foot sky garden, bike rooms and showers, environmentally-friendly meeting and event space, and priority low-emitting vehicle parking.

The Green Exchange is expected to open in 2009 and will house tenants that provide innovative, sustainable products and services and will become a destination for environmentally-responsible consumers.