Does making a building increase its value? Time will truly tell. But there is some evidence that it surely won’t hurt the resale price.

Treehugger compiled a nice collection of anecdotal evidence from the February 20, 2006 Chicago Sun Times:

“In Chicago office development, “going green” has a double meaning. It’s about environmental friendliness, yes, but especially the color of money”

“John Buck Co. was among the first in Chicago to seize upon the trend…It’s 51-story 111 S. Wacker building opened last June, and four months later crossed a green milestone. It became the first new office building not designed for a single user to win what’s called a LEED gold rating”

“…from the landscaping and storm-water collection system on its roof to the recycling system and bicycle storage space in the building’s depths…Buck met standards for sourcing construction material nearby, with much of it recycled, and for the design and installation of air-filtration systems and monitors for indoor pollutants”.

“Property records show that the Buck firm and co-investors sold 111 S. Wacker last month to a German investment fund for $386 million. Buck will continue to collect fees for managing the property…That’s a nice return on a $270 million project, more than enough to put LEED on more developers’ lips”.

Mike, a Treehugger reader was quick to point out that you cannot neceassrily attribute the nice return on investment has anything or much to do with the LEED gold rating.

This is a valid point because there are many factors that determine the resale price of a property. And with green techonology becoming so trendy popular today, surely the cool-factor has to come into play (which is a good thing).

But, it would seem logical that the more energy-efficient a property is, the more valuable it is. Especially as energy prices continue to increase. Small improvements in efficiency in a large office building or property can reduce operating costs significantly, thus making it more valuable.