In 2007, Green Exchange was just an empty Chicago building and a plan on paper. But now construction is underway to create the country's first commercial real estate development designed for the advancement of green business. While tenants won't begin moving into the former lamp factory until late this year, the plan is now several steps closer to reality because a number of companies have signed up.

The four-story 272,000 sq. ft. Green Exchange, located on Diversey Avenue in Chicago, is the largest adaptive reuse development in the nation to be converted in accordance with platinum Leadership in Energy and Environmental Design (LEED) specifications. It will provide a significant retail presence, showroom galleries, office space, work-live lofts and common areas.

The goal is to create an epicenter for green businesses and organizations. Green Exchange is seeking tenants that offer a green product or service or that advance green initiatives. For the developers of Green Exchange, the definition of green includes embracing eco-friendly, fair trade, and/or socially responsible practices in addition to those that promote health and wellness.

Printing With Purpose

One tenant that will lease space in the eco-friendly development is Consolidated Printing Company, which will operate a sales office and digital workspace for one or two employees along with a business center for use by all Green Exchange tenants. The company’s main printing facility and approximately 15 other employees will remain at its present location about seven miles away.

Distant Village Packaging owner and founder Rich Cohen.

Since 1973, Consolidated Printing owner Marilyn Jones has not only been a user of but also a printing industry spokesperson for eco-friendly printing products and practices. Going well beyond just using soy inks and recycled paper, the entire company is petroleum free, which affects everything from ink to roller lubricants and wash-up solutions.

"Being part of Green Exchange is a great opportunity on a number of different levels," says Marilyn. "As a company, we've gone about as far as we can go toward being green. We're at the all-vegetable level with our inks and chemicals. Going into Green Exchange is going to mean supporting the green community and bringing in new business for our company."

Packaging the Eco Movement

The synergies of Green Exchange also attracted Richard Cohen, founder and owner of Distant Village Packaging, another company moving into Green Exchange. Distant Village is an eight-year-old custom packaging company that designs boxes, bags and baskets hand-made by local artisans in third-world villages using sustainable materials.

The former lamp factory will be leased exclusively to tenants offering green products or services. Chicago’s downtown skyline can be seen from the roof of the building.

The company will be moving its staff of six to Green Exchange to occupy office space and a showroom for business-to-business marketing efforts. "We don't practice the 'bleeding heart' business model where you put a picture of a needy child on the cover of your brochure," says Richard. "We create specialty packaging that gets products noticed by speaking about their brand more effectively than the competition. We're proving that you can do well by doing good. Being part of Green Exchange will help facilitate awareness and provide a vibrant business community."

Tangible Benefits

"There are tangible benefits of being in a green building," says Jennifer Schellinger, who manages public relations for Green Exchange. "Air quality, daylight, healthy spaces — studies show that all of these things help improve an employer's ability to attract and retain employees as well as increase their productivity."

Those benefits for the employer dovetail into benefits for the consumer and the enduser, according to Jennifer. "People who want to buy green often don't know where or how. Combining all these green businesses under one roof will not only create incredible synergies for the tenants, but also a wonderful one-stop shopping experience for the consumer."

As of May 2008, approximately 13 tenants are on board to lease space in Green Exchange, according to Phil Baugh, Director of Leasing for Baum Realty Group. Other tenants include:

• Arete Wealth Management, an advisory firm offering socially responsible investment opportunities
• Contract Resource, a green space planning, office design and contract furnishings company
• Evergreen Oak Electric, an eco-friendly electrical supply and lighting company
• Greenmaker, a green building supply company
• GreenPets, a retail store offering healthy and organic pet supplies
• Kenai, Inc., a retail store offering footwear and apparel made from animal-friendly and environmentally sustainable materials
• MeGoGreen, a green search engine and a savings/coupon book
• Planet Promotions, an event planning and guerrilla marketing company
• Sparkle Queen, a residential cleaning service that uses eco-friendly cleaning products
• Twig and a Feather, a retail design center specializing in eco-friendly faux finishes and murals
• YRG Sustainability Consultants, a consulting firm with areas of specialty ranging from green development to organizational sustainability

Related Links
www.grainger.com/green
www.greenexchange.com

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