Request for Information (RFI) For the Sale of the William O. Lipinski Federal Building

Request for Information (RFI)

This RFI seeks market research information from entities interested in the sale of the William O. Lipinski Federal Building located at 844 N. Rush Street, Chicago, IL. The objective is to gather information to guide the development of a sale strategy that maximizes return for the taxpayer and facilitates the transition of the property to the private sector.

The property is a 15-story office building with ground floor retail space, built in 1923. It contains 372,508 gross square feet (352,229 rentable sf, 271,171 usable sf). The building is considered a prime candidate for residential conversion.

• Federal Tenant: Occupies 281,892 RSF and is expected to remain until June 2028, paying an annual rent of $1,378,389.84. The Federal Tenant will not be responsible for operations and maintenance costs during their occupancy.

• Commercial Tenants: Occupy 48,034 RSF (ground floor retail and mezzanine) and are expected to stay through October 2027, paying an annual rent of $455,436.24. Their lease terms will require conversion to a private sector instrument.

• Respondents are requested to submit White Paper responses to five specific questions.

• The response should include company name, address, point of contact, and business status.

• White Papers are limited to 20 pages.

• No reimbursement will be provided for expenses associated with responding.

• Responses are due no later than 3:00 PM Eastern Standard Time (EST) on Wednesday, February 25, 2026.

• Submissions should be sent via email to huy.le@gsa.gov and rhiannon.martin@gsa.gov.

• This RFI is for information and planning purposes only and does not constitute an RFP or RFQ.

• The Government is not seeking proposals or quotes at this time and will not accept unsolicited ones.

• No contract commitment is implied.

• Submitting a response does not preclude future participation in RFPs or RFQs.

Respondents are asked to provide insights on:

• The impact of current leases on property value and marketability.
• Potential impediments of the Federal Tenant's occupancy and proposed resolutions.
• Preferred sale strategies (e.g., leaseback, delayed closing, vacant sale) and their benefits/challenges.
• The impact of lacking a Certificate of Occupancy (COO) for a new owner.
• Recommendations for alternative transactional structures to meet the Government's objectives.

Request for Information (RFI)

This RFI seeks market research from entities interested in the sale of the William O. Lipinski Federal Building located at 844 N. Rush Street, Chicago, IL. The General Services Administration (GSA) aims to gather information to guide the development of a sale strategy that prioritizes maximum return for the taxpayer and facilitates the transition of the property to the private sector.

The property is a 15-story, 372,508 gross square foot office building built in 1923. It includes ground floor retail space and is considered a prime candidate for residential conversion. The building contains 352,229 rentable square feet (RSF) and 271,171 usable square feet.

• Federal Tenant (Railroad Retirement Board): Occupies 281,892 RSF. Lease is anticipated to continue until June 2028, with an annual rent of $1,378,389.84. The Federal Tenant will not be responsible for operations and maintenance or capital improvements during their occupancy.

• Commercial Tenants (Restaurant & Dealership): Occupy 48,034 RSF on the ground floor and mezzanine. Lease is anticipated to continue through October 2027, with an annual rent of $455,436.24. Their lease terms will require conversion to a private sector instrument if the Federal Tenant remains in a leaseback arrangement.

• Respondents are requested to submit White Paper responses to five specific questions.

• Responses are limited to 20 pages and should highlight relevant attributes and examples.

• A cover page with company name, address, point of contact, and business status is required.

• No reimbursement will be provided for expenses associated with responding.

• Responses are due no later than Wednesday, February 25, 2026, 3:00 PM Eastern Standard Time.

• Submissions should be sent via email to huy.le@gsa.gov and rhiannon.martin@gsa.gov.

• This RFI is for information and planning purposes only and does not constitute an RFP or RFQ.

• The Government is not committed to any future contract and will not accept unsolicited proposals.

• All submissions become Government property.

• Responding to this RFI does not preclude future participation in any RFP or RFQ.

The RFI includes five questions focusing on:

• The impact of current leases on property value and marketability.

• Potential impediments from the Federal Tenant's occupancy and proposed resolutions.

• Evaluation of various sale strategies (e.g., leaseback, delayed closing, vacant sale) and recommendations for transactional structure.

• The impact of the lack of a Certificate of Occupancy (COO) from the City of Chicago.

• Exhibit A: Lipinski Sale-Leaseback (GSA Template L101)

• Exhibit B: Commercial Tenants Lease Terms

Lease Agreement

This document is a "Cooperative Use Outlease" (Lease Number GS-05B-33062) between the U.S. General Services Administration (Lessor) and Rush Development, Inc. (Lessee) for the first floor of the U.S. Railroad Retirement Board Building at 844 North Rush Street, Chicago, Illinois. The lease covers approximately 17,598 net usable square feet across Blocks A, B, and C.

• Lease Term: Initial term of fifteen (15) years, with options for three (3) additional five (5) year periods.
• Premises: Approximately 17,598 net usable square feet on the first floor, divided into Block A (8,242 sq. ft.), Block B (2,895 sq. ft.), and Block C (6,461 sq. ft.). An additional storage option of up to 1,000 net usable square feet is available.
• Purpose of Lease: Primarily for food service and other retail tenants. Block A is designated for at least one fast food or low-priced food service provider. Blocks B and C are for food services, IDORS Gift Shop, or other approved retail tenants. Direct competition with existing Government services is prohibited.
• Rent: Annual base rent starts at $12.00 per net usable square foot, with a 3% annual escalation. Percentage rent of 5% of gross revenue over a breakpoint will be paid commencing on the second anniversary of the lease execution.
• Lessee Responsibilities: Includes maintenance, repairs, utilities, insurance, accident prevention, pest control, and compliance with all applicable laws and regulations. The Lessee is responsible for initial build-out costs and subsequent alterations, subject to Government approval.
• Government Responsibilities: Includes exterior window washing and snow removal on sidewalks during business hours.
• Insurance: Comprehensive general liability and property damage insurance are required, with specific minimum amounts.
• Security: Lessee must comply with security regulations, including obtaining building passes and potentially undergoing background checks. Non-compliance can lead to termination.
• Termination: The Lessee has the right to terminate within 120 days if a vendor commitment for Block A is not secured. The Government may terminate for Lessee's material default.
• Exhibits: The lease includes several exhibits detailing drawings of the premises (Blocks A, B, C), definition of net usable space, rent schedule, historic building preservation plan, Executive Order 13058 (smoking policy), and an Attornment and Nondisturbance Agreement.

Form / Attachment / Pricing Sheet

This document is a template for a GSA Lease Agreement, specifically for a Sale-Leaseback arrangement (GSA Template L101). It outlines the terms and conditions for leasing property to the U.S. Government. It is intended to be completed by a Leasing Specialist upon selection for award.

• Parties: Identifies the Lessor and the Government (General Services Administration).
• Premises: Describes the leased space, including office and related space, common area factor, and appurtenant rights (parking, antennas).
• Lease Term: Specifies the duration of the lease, including firm and non-firm terms, and renewal options.
• Rent and Consideration: Details the annual rent, including shell rent, operating costs, and parking fees. It also outlines provisions for rent adjustments and payment methods (EFT, SAM registration).
• Termination Rights: Outlines the Government's right to terminate the lease.
• Building Shell Requirements: Specifies standards for construction and maintenance, including fire & life safety, elevators, accessibility, and HVAC.
• Utilities, Services, and Obligations: Covers provision of services, access, normal hours, utilities, HVAC, janitorial services, asbestos, certificate of occupancy, identity verification, and safeguarding of controlled unclassified information (CUI).
• Hazardous Materials and Mold: Addresses requirements for hazardous materials and mold remediation.

This document serves as the foundational lease agreement. Potential bidders (lessors) would use this template to understand the government's requirements for leased space, including construction standards, service obligations, and contractual terms. It details the structure of the rent, lease duration, and the government's rights and responsibilities, which are critical for developing a competitive proposal or bid for a lease opportunity.