CHICAGO--(BUSINESS WIRE)--Baum Development LLC, a comprehensive commercial real estate development firm, announced its plans for Green Exchange, the first business community committed to environmental sustainability, profit and positive social impact. The four-story 250,000 square foot concrete loft building will be renovated according to LEED certified standards. Currently, Baum is in active negotiations with 20 tenants. Initial occupancy for this adaptive reuse development is scheduled for the first quarter of 2008. Located at 2545 West Diversey Avenue in Chicago, space will be leased exclusively to tenants offering sustainable products or services and actively working to expand the green marketplace. “We want Chicago to be a shining example of how a major urban area can live in harmony with its environment – and we want our city to be an advocate for green practices in city planning, construction, energy use and day-to-day management of government and the private sector,” said Mayor Richard M. Daley. “Green Exchange is a great example of the public/private partnerships that are working together to help make Chicago one of the most environmentally friendly cities in the nation.” Green Exchange will showcase an opportune tenant mix to include an organic restaurant, an alternative automobile showroom, a sustainable furniture store, a green building supply company, an eco-friendly printer, an environmentally-friendly clothing company, a car sharing service, a bike shop and more. Green Exchange also offers office space for green service providers including architects, interior designers and energy consultants, making it the natural destination for environmentally responsible businesses and consumers. Located in Chicago’s 1st Ward, Green Exchange is championed by Alderman Manuel Flores who has played a vital role in the development of Green Exchange. “The rise in global competition requires America’s economy to become more innovative and forward looking,” said Flores. “Green Exchange provides 21st century jobs based on new technologies and environmentally sustainable services. This development paves the way for Chicago to become the green economy’s Silicon Valley.” The familiar Chicago landmark, located at the full-service Diversey interchange on I-90/94, will be transformed by architects Hartshorne and Plunkard into the country’s most unique green development.
