News Release

CHICAGO - The Federal Reserve Bank of Chicago building is one of 10 buildings nationwide that have been recognized as "The Office Building of the Year" (TOBY) by the Building Owners & Managers Association (BOMA) International.

The TOBY is a commercial real estate industry award that recognizes office building quality and the highest building management standards. TOBY award winners demonstrate excellence in building management, operational efficiency, tenant retention, emergency planning and community impact.

This is the second award given to the Chicago Fed by BOMA, an international commercial real estate trade association. In September 2003, the building was awarded the Chicago-area TOBY in the government category. Now that BOMA has named the building a regional champion for the North-Central United States, it will be entered in the June BOMA international competition in Toronto, Canada.

"The TOBY is considered one of the most prestigious awards in the commercial real estate industry," said Chicago Fed Vice President Kristi Zimmerman. "The regional award shows our commitment to our tenants and our building."

The Chicago Fed building, located at 230 South LaSalle Street, is a signature architectural structure that is part of the Chicago Loop's financial district. The owner-occupied facility has numerous amenities and state-of-the-art security. The fully modernized facility currently leases space to six tenants who occupy more than 131,000 square feet.

The TOBY is awarded based on criteria developed by BOMA which include:

• building standards - uniform standards for carpentry, electrical, protection, painting, plumbing and furniture
  
• community impact - how the building supports community outreach and contributing to the well being of the public
  
• tenant-employee relations - special events, services and amenities offered to building occupants
  
• energy management systems and procedures - operational procedures, equipment, and training to accomplish energy conservation goals
  
• emergency preparedness and security standards - security measures implemented throughout the building

The TOBY Award-winning Chicago Fed building has roughly 100,000 square feet of space available for lease, with 31,000 available immediately.

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Federal Reserve Board in Washington, D.C., constitute the nation's central bank. The Federal Reserve Bank of Chicago serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. Each Reserve Bank supervises member banks and bank holding companies, serves as a bank for depository institutions and the U.S. government, monitors economic conditions in the District, and participates in formulating national monetary policy.