CHICAGO (CBS) — The city of Chicago Community Development Commission has given its stamp of approval to a city takeover of the old Main Post Office.

The vote was 10-1 to acquire the building through eminent domain from European developer Bill Davies, who has controlled the Art Deco edifice, at 433 W. Van Buren St., since 2009.

Mayor Emanuel said Davies and others have had years to redevelop the building, which has sat dormant since the current Main Post Office opened in 1996.

“This is an incredible property that needs to be developed and become an economic job engine for the city of Chicago and it has sat totally on the sideline,” he said. “We’re going to put it back to work.”

The 2.7-million square foot post office opened in 1921, and is a familiar sight to anyone who uses the Eisenhower Expressway to get to and from the Loop, spanning it just west of the South Branch of the Chicago River.

Davies has proposed everything from retail stores and a casino in the nine-story building to micro-apartments and a mausoleum. Although Chicago City Council approval of the eminent domain acquisition could take a couple of months, the city expects to begin requesting proposals in the next three weeks, with the selection of a developer this summer.