Work started for Chase Bank's new location

Renovations are underway at 531 E. Washington St. in Springfield, which previously housed the downtown Pease’s Candy location. Chase Bank is relocating from 1 East Old State Capitol Plaza to the first and second floors of the building on Washington.

“They wanted to keep their presence on the (Old State Capitol) square, so it’s an ideal location,” said Sam Nichols, who is the listing agent for the property and managing broker at True Commercial Real Estate Services in Springfield.

The five-story building has approximately 3200 square feet per floor, and Nichols indicated that Chase plans to have a retail presence on the first floor with administrative offices on the second floor. Nichols said, “If they didn’t want to continue to have a commitment to Springfield they would have just left. I’m glad to see them staying here. They’ll be an asset to the building.”

A building permit filed with the City of Springfield valued the project at $1,990,000. Jones-Blythe Construction is the general contractor.

In February, Illinois Times broke the news  that the Illinois State Treasurer’s Office was considering consolidating its offices into Chase Bank’s current headquarters downtown.

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