One Prudential Plaza

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One Prudential Plaza
2004-09-08 1600x2840 chicago prudentials.jpg
One Prudential Plaza with Two Prudential Plaza towering behind
One Prudential Plaza
Interactive map of One Prudential Plaza
Former namesPrudential Building
General information
StatusCompleted
Location130 E. Randolph St.
Chicago, Illinois
United States
Coordinates 41°53′06″N87°37′24″W / 41.8849°N 87.6233°W / 41.8849; -87.6233
Completed1955
Height
Antenna spire912 ft (278 m)
Roof601 ft (183 m)
Technical details
Floor count41
Floor area1,762,989 sq ft (163,787.0 m2)
Design and construction
ArchitectsNaess & Murphy
Structural engineerNaess & Murphy
Main contractorGeorge A. Fuller Co.

One Prudential Plaza (formerly known as the Prudential Building) is a 41-story structure in Chicago completed in 1955 as the headquarters for Prudential's Mid-America company. It was the first skyscraper built in Chicago since the Great Depression of the 1930s and the Second World War. The plaza, including a second building erected in 1990, is owned by BentleyForbes and a consortium of New York investors, since the Great Recession of the early 21st century. [1]

Contents

History of construction

The structure being built in the 1950s Photography by Victor Albert Grigas (1919-2017) INDUSTRIAL 00510 (49316859987).jpg
The structure being built in the 1950s

The structure was significant as the first new downtown skyscraper constructed in Chicago since the Field Building, 21 years earlier and was built on air rights over the Illinois Central Railroad. [2] It was the last building ever connected to the Chicago Tunnel Company's tunnel network. When the Prudential was finished it had the highest roof in Chicago with only the statue of Ceres on the Chicago Board of Trade higher. Its mast served as a broadcasting antenna for Chicago's WGN-TV. [2] The architect was Naess & Murphy, a precursor to C.F. Murphy & Associates and later Murphy/Jahn Architects. [3]

Later purchase

In May 2006, BentleyForbes, a Los Angeles-based real estate investment firm run by Frederick Wehba and his family, purchased One Prudential Plaza, along with its sister property, Two Prudential Plaza for $470 million. [4]

After a default on the mortgage encumbering the towers during the Great Recession of the early 21st century, New York-based investors 601W Companies and Berkley Properties took control of the towers after investing more than $100 million in equity to recapitalize. [5] BentleyForbes, the prior controlling owner of the towers, continues to have an interest in the owning partnership. [6]

Tenants

in 1964 1964-CM05015 (3552240511).jpg
in 1964
1943 view from One Prudential Plaza location Illinois Central Railroad freight terminal, Chicago, Ill Restored.jpg
1943 view from One Prudential Plaza location

The building was the home of the Chicago Tribune and Tribune Publishing after leaving Tribune Tower in July 2018 [25] until January, 2021. [26]

See also

Position in Chicago's skyline

Chicago skyline labelled.jpg311 South Wacker111 South WackerChase Tower77 West WackerIBM PlazaAon CenterBlue Cross and Blue Shield TowerPark TowerHarbor Point

References

  1. ↑ Gapp, Paul (December 23, 1990). "Too prudent Two Pru design is functional but uninspired" . Chicago Tribune . p. 3. Archived from the original on August 23, 2021. Retrieved September 3, 2018.
  2. 1 2 Fuller, Ernest (December 9, 1955). "Dedicate New Prudential 41 Story Building". Chicago Tribune . Archived from the original on September 4, 2017. Retrieved September 3, 2017.
  3. ↑ Heise, Kenan. "CHARLES F. MURPHY, CHICAGO ARCHITECT". chicagotribune.com. Archived from the original on October 13, 2018. Retrieved October 12, 2018.
  4. ↑ Gallun, Alby (May 30, 2006). "BentleyForbes secures financing for Prudential Plaza purchase". Crain's Chicago Business . Retrieved September 3, 2017.
  5. ↑ Ori, Ryan (September 8, 2015). "Prudential Plaza gets new $415 million loan". Crain's Chicago Business. Retrieved September 3, 2017.
  6. ↑ "Gleicher Leads NY Investors in Acquisition of Controlling Interest of Chicago's Prudential Plaza Office Towers" (Press release). Olshan Frome Wolosky LLP. June 6, 2013. Archived from the original on February 22, 2015. Retrieved June 26, 2013.
  7. ↑ "Contact Us". Archived from the original on June 22, 2019. Retrieved June 22, 2019.
  8. ↑ "Media Kit" (PDF). Society of Women Engineers. Retrieved September 3, 2017.
  9. ↑ "About Us". AISC. Archived from the original on September 4, 2017. Retrieved September 3, 2017.
  10. ↑ "Contact Us". www.wilson.com. July 26, 2017. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  11. ↑ "Contact". Marketing Werks. Retrieved November 12, 2018.
  12. ↑ "Update or Add Your Outlet Profile - Cision". Cision. Archived from the original on November 6, 2018. Retrieved November 12, 2018.
  13. ↑ "Contact Us Conversion Alliance - Chicago Marketing Agency". Conversion Alliance. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  14. ↑ "About - No Limit Agency". No Limit Agency. Archived from the original on November 13, 2018. Retrieved November 12, 2018.
  15. ↑ "Contact Us". Chicago Federation of Labor. Archived from the original on November 13, 2018. Retrieved November 12, 2018.
  16. ↑ "Education and Test Prep Editorial Contacts". McGraw Hill Education. Retrieved November 12, 2018.
  17. ↑ "Contact". Vanderbilt Office Properties. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  18. ↑ "Contact Us - envisionit". envisionit. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  19. ↑ "Office and Affiliate Locations - S&P Global Ratings". www.spratings.com. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  20. ↑ "Contact Us". www.bbandainc.com. Retrieved November 12, 2018.
  21. ↑ "Contact Us - OppLoans". OppLoans. Archived from the original on November 13, 2018. Retrieved November 12, 2018.
  22. ↑ Chicago, Hubbard. "Contact Hubbard Chicago". www.hubbardchicago.com. Retrieved November 12, 2018.
  23. ↑ "Contact Us - Painters District Council 14". pdc14.com. Archived from the original on November 12, 2018. Retrieved November 12, 2018.
  24. ↑ "Contact - Optiver". optiver.com. July 4, 2022. Archived from the original on November 12, 2022. Retrieved November 12, 2022.
  25. ↑ Kogan, Rick. "Farewell to Tribune Tower: Friday we pack our boxes and depart what has been this newspaper's home". Chicago Tribune .
  26. ↑ Ori, Ryan (January 11, 2021). "Chicago Tribune to exit Prudential Plaza, move newsroom to printing facility". Chicago Tribune. Archived from the original on October 3, 2024. Retrieved February 10, 2024.
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