The Chicago Fed Offers Free Rent on Its Detroit Branch
Pic credit: toothpaste for dinner
If I'm not mistaken, the Fed is down to one check processing center (Cleveland) since the only people who write checks these days are people with no money in their accounts, identity thieves and folks like my grandma who refuse to use online bill pay.
So the Chicago Fed is trying to make use of its Detroit branch, pimping out cheap space to anyone who isn't at all creeped out by the idea of working in a Fed branch. You know, I am considering a move, maybe I should give them a call and see if they'll take a couple hundos and some physical gold in exchange for the joint?
The AP via the Chicago Tribune:
If you like the idea of free rent for up to one year in Detroit, Uncle Sam's central bank wants you.
The Detroit branch of the Federal Reserve Bank of Chicago has launched a marketing effort to find renters for some of its secure, 235,000 square-foot facility.
It's the first time the five-year-old building has sought tenants, as the Federal Reserve downsizes and consolidates nationwide. Detroit's branch in particular finds itself with more space because it no longer houses a check-processing operation.
FYI Detroit has a 30% office vacancy rate so we'll just have to see if the draw of free rent gets any takers.