MB Real Estate announces that 181 W. Madison has recently received a $186,750 rebate check from ComEd for its participation in the Smart Ideas® Building Performance with ENERGY STAR® Commercial Real Estate program.
The program provided by ComEd is designed to help multi-tenant office buildings become more energy efficient, overcome the barriers often preventing owners and tenants from investing in energy efficiency, and offers technical assistance to commercial building owners and tenants to take advantage of available incentives. Energy is one of the largest operating expenses for office buildings and ComEd’s Smart Ideas® program helps buildings offset the capital investment needed for energy reducing projects.
For their part in the program, MB Real Estate’s management and engineering teams at 181 W. Madison recently completed a chiller replacement. The project involved replacing an existing 23-year old 1,100 ton chiller with a new energy efficient 1,350 ton chiller.
The new chiller will result in a decrease of more than 200,000 kwh/year, or roughly an annual savings of $20,000 with another $7,000 in savings due to a reduction in the maintenance contract. Additionally, the rebate from ComEd has reduced the overall cost of the project by 21%.
181 W. Madison is a Class A, 50-story office building located at the intersection of Madison and Wells in Chicago’s Loop. The property is owned by CBRE Global Investors and is leased and managed by MB Real Estate.