The Chicago Teachers’ Pension Fund (CTPF) will relocate offices to 425 South Financial Place, this autumn. The CTPF Member Services and Administrative offices will occupy the full 14th floor and a portion of the 15th floor, which will include a Board Meeting Room and space to accommodate Trustees, members, visitors, and staff attending meetings and other CTPF events.
The building is a 515-foot tall skyscraper designed by Skidmore, Owings & Merrill, originally built to house the Chicago Stock Exchange, now renovated into a contemporary space. The location includes ample underground parking spaces, a bike room, direct access to bus, CTA and Metra lines, immediate access to highways, and a nearby Divvy bike station.
CTPF’s phone and fax numbers will remain the same. The physical move is planned for the fourth quarter. This page will be updated with additional information as it becomes available.
Frequently Asked Questions
Why is CTPF moving offices?
The 15-year lease at our current location ends in 2021. After careful analysis and due diligence, the CTPF Board of Trustees determined that the cost of staying in its current location would be substantially higher than relocating.
Will there be anticipated cost savings?
CTPF estimates savings of about 14% per year compared to the cost of the current location. Overall, CTPF estimates saving $3.8 million over the next 15 years.
How much will it cost to move? Who pays these costs?
A majority of the cost of the move will be covered by the Tenant Improvement Allowance, provided by the new landlord.
Will CTPF pay double rent until their current lease expires?
CTPF will not pay double rent. The new landlord will cover the remaining rent on CTPF’s lease at 203 North LaSalle.
When does CTPF anticipate moving?
CTPF anticipates moving in Autumn 2019.
How will CTPF communicate the move and impact to members?
The Fund will share information using all communications modalities, well in advance of the move date.
What are some of the advantages that members will experience at the proposed new location?
- Close proximity to Metra’s Electric and South Shore, Rock Island, and BNSF lines, as well as the Milwaukee, North Central, Heritage, and Southwest stations. Ogilvie Station is equidistant from the current space and the new space.
- CTA L riders have direct access to the Orange, Pink, Brown, and Purple lines. The CTA’s Green and Red lines are easily accessible.
- Multiple CTA bus routes within one block.
- Convenient expressway access for drivers and in-building parking with reduced daily rates.
- Fully handicapped accessible property.
- Fully secure building with secure access lobby.
- Access to conference rooms and meeting space for Member-facing events.
- Enhanced boardroom audio and video capabilities to make Open Meetings more accessible for members.