Big Ticket Waste: Are Empty Federal Buildings Emptying the Taxpayers’ Wallets?

Did you know that more than 30 federal agencies are wasting –at the very least–, $15 billion in unused real property assets worldwide? We don’t even know how big the number is because there is no definitive inventory of federally owned facilities and land, let alone an inventory of buildings and land that go unused. Taxpayers are losing billions each year as Congress keeps sending checks to pay holding costs for vacant buildings, instead of demanding that they be sold or demolished.

Location: the former Main Post Office in Chicago, 2.5 million square feet of unused property. Holding costs for this facility exceed $2 million annually, and it has been vacant since 1997. Why has it taken so long to sell the property?? This field hearing will explore the reasons why so many agencies do not efficiently or effectively maintain and manage their real property portfolios.

Location: Former Main Post Office, Chicago (433 West Van Buren Street)

And Cardiss Collins Post Office

Quad C Room 3087

433 W. Harrison Street

60699-9208

Chicago, Illinois