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FH Paschen Wins $74.8M CTA Job

Chicago Office

The City just awarded “L” veteran FH Paschen a $74.8M job building the new Washington/Wabash station, and work is slated to start this spring, the Redeye reports. Delayed for a couple years now, the federally funded project will combine both the Randolph and Madison/Wabash stops, with updates for bikes and wheelchair accessibility.

With neighboring residential conversions like the top floors of recently sold 55 E Monroe reducing inventory, demand is up for East Loop, amenity-rich office buildings with lower rents then the trendy West Loop, says GlenStar Properties' Rand Diamond. So it makes sense the mayor’s office predicts more than 13,000 riders each weekday, making the station the CTA’s fifth busiest when completed next year.