Milwaukee Tool said its new 70,000-square-foot office opened recently in the Old Post Office building at 433 W. Van Buren St.
The Brookfield-based cordless-tool maker said it spent $14 million to renovate the space, with about 10,000 square feet dedicated to lab space for design and development. According to the company, the Old Post Office space will focus on engineering design and innovation and has space to house more than 250 employees.
"As we continue to push the limits of new technology to deliver the best solutions for our users, an expansion into Chicago was an obvious choice. This city has a fast-growing tech scene that draws diverse technical talent from around the country," said Steve Richman, Milwaukee Tool group president, in a statement.
The company originally announced in October that it was moving into the Old Post Office building, where it already had a temporary lease for 15,000 square feet of office space.
As of last month, 601W Cos. said the Old Post Office was 95% leased. The New York-based developer said it paid $130 million to acquire the former 2.8 million-square-foot industrial building in 2016 and spent about $1 billion to renovate it into office use.
Milwaukee Tool is owned by Techtronic Industries Co. Ltd. of Hong Kong.
