Baum Development's Green Exchange, a sustainable 272k SF office building at 2545 W Diversey in Logan Square, picked up a LEEDPlatinum certification. Formerly an underwear factory then home to Cooper Lighting, the redeveloped historic property is now more than 90% occupied with eco-friendly businesses and rents are generally in the $20s/SF, Baum principal David Baum (left, at a GX Connects event) tells us. Tenants include GreenChoice Bank, Coyote Logistics, Rainforest Learning Center, and just moved-in Ale Syndicate, an environmentally conscious microbrewery. The property received its LEED cert for energy use, lighting, water, and material use.
While market chatter focuses on downtown office, David is passionate about creating economic development in Chicago's unique neighborhoods and believes "the greenest building you build is the one you don't tear down." He thinks tenants are attracted to the green property to improve employee health and wellness, increasing productivity. His favorite building features, including the 8,000 SF organic sky garden (above) and Greenhouse Loft event space, are a lasting memorial to friend and mentor Kevin Pierce, a leader in Chicago green design who died of a brain tumor last week. Kevin taught Baum everything "we didn't know we didn't know" and the company plans to replicate the building's success in other neighborhoods around the city.
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