Crain’s Chicago Business
September 16, 2015
Plans to turn the historic Schulze Baking plant, a South Side landmark that churned out Butternut bread for decades, into a data center are finally taking off.
A Matawan, N.J.-based data center company, 1547 Critical Systems Realty, is partnering with South Side real estate developer Ghian Foreman to get the project moving. 1547 will provide the capital and data center expertise to pull off the renovation.
It will take about five years and $130 million to convert the 230,000-square-foot bakery at 55th Street and Wabash Avenue. The first phase should be ready within two years, said Todd Raymond, CEO of 1547.
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