By: Ashmar Mandou

Governor JB Pritzker and the Illinois Department of Central Management Services (CMS) on Wednesday announced the selection of a buyer for the sale of the Damen Silos. After months of competition and pushback from community members, the State plans to enter into negotiations with MAT Limited Partnership (MAT) for the purposes of acquiring the site located at 2900 South Damen Avenue. “From the moment I took office I’ve worked to increase efficiency in state government,” said Governor JB Pritzker. “With the sale of Damen Silos, we are doing what many administrations before us could not, saving taxpayer dollars in the process, and providing the opportunity for significant economic development projects on the South Side of Chicago.”

On August 15, 2022, CMS issued the IFB for the Sale of the Damen Silos. Four proposals were received by the deadline of October 19, 2021. CMS reviewed the responses and requested a Best and Final Offer by October 28, 2022. MAT offered the highest purchase price for the property, which was more than double the asking price. “The Damen Silos is an iconic piece of Chicago history. We are honored to play a role in transforming the property and generating economic activity that helps the community flourish”, said Michael Tadin, owner of MAT Limited Partnership. “Our investment will allow us to establish a new headquarters at the site as we become a leader in the electric vehicle industry.”

The 23.4-acre property is split by Damen Avenue and is comprised of two parcels of land having extensive frontage along the South Branch of the Chicago River. The property’s combination of size, access to transportation and main road lines, adjacency to the Chicago River, and proximity to prime business areas made Damen Silos a prime real estate opportunity. “The sale of the Damen Silos has eluded State government for nearly a decade, so we used a thoughtful and pragmatic approach to remove this surplus property from the State’s portfolio,” said CMS Acting Director Anthony Pascente. “The sale will generate economic opportunities, return the property to the real estate tax rolls, and save the State more than $325k of annual operating expenses.” As a next step in the purchase process, CMS will enter into exclusive negotiation with MAT Limited Partnership to finalize the Purchase Sale Agreement with the intent of closing on the property by the end of December 2022.