CHICAGO — The University of Illinois announced Friday it is ready to make its mark on Chicago’s South Loop.
Construction on a major research facility is getting ready to get underway.
The headquarters will be built near the intersection of 15th Street and Clark Street, the site of an old railroad yard that has sat vacant for decades.
But it will soon become the hub for a technology and innovation center.
Governor JB Pritzker and Mayor Lori Lightfoot joined U of I officials Friday as they shared plans for its Discovery Partners Institute Headquarters.
“Over the last few years Chicago has taken center stage as a vibrant hub of technology development and entrepreneurship,” Pritzker said.
Final renderings and construction details were released and include an eight-story, steel-glass dome building that will be built along the riverfront. It will the hub for Chicago’s up-and-coming new neighborhood The 78.
“We’re going to catch the ‘Researchers Triangle.’ We’re going to catch Boston and we’re going to catch and exceed Silicon Valley with the kind of investment that are being made here,” Lightfoot said.
The $250 million dollar headquarters won’t break ground until 2024. It will include office, classroom, lab and event spaces.
Officials believer it will create opportunities to attract and retain professionals in stem or technology careers.
CVS Health will be DPI’s anchor employer through their technology services firm called Interapt.
The organization’s goal is to restore the racial and gender disparity in Chicago’s tech community.
Both the governor and mayor said they believe the new headquarters will serve Chicago residents well…with the growth, jobs and opportunities it’s set to bring.
Construction is scheduled to be completed by 2026.