chicago-condos Administrator on 21 Jul 2007 08:04 pm

The Green Industry

With China’s exploding economy and cheap labor, the pressure on the iconic Chicago Frederic Cooper Lamp Factory was too much. Shutting down in 2005, the factory’s loss was a hit to the community and the workers. However, out of the tragedy of a lost institution comes new things and new ventures, and some Chicagoans have found just the thing.

The old factory, just a decade shy of being a century old, is coming back as the Green Exchange.

The building is planned to be the outlet for as many as 100 companies that deal in sustainable products, and provide 400-600 jobs in the new eco-friendly market. The companies will sell everything from solar panels to eco-friendly cleaning to electric cars, and the jobs will go from entry level hourly jobs to highly-paid salaries.

So far, seven companies have signed on to move in, and should begin actually moving in early 2008.

The previous owners of the building sold it a couple of years ago to David and Douglas Baum, who are real estate and property investors. Interestingly, they specialize in taking old buildings and turning them around and making them into a new opportunity for neighborhoods that need a bit of a kickstart due to economic slumps or hard times.

This should be an exciting development to watch, and we find it interesting that an old factory washed under by the tide of change has potential to be a very positive force in the future of Chicago and this neighborhood. There are interesting Chicago condo developments going on right now too, click here if you’re interested in learning more about them.

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