110 North Wacker

110 North Wacker, also known as the Bank of America Tower,[1] is a 57-floor skyscraper in Chicago located at 110 North Wacker Drive.[2] It was developed by the Howard Hughes Corporation and Riverside Investment & Development.[3] It was designed by Goettsch Partners[1] with construction by Clark Construction.[4] Structural engineering was by Thornton Tomasetti.[5] A topping-out ceremony was held in September 2019 and the building officially opened in on October 14, 2020.[1]

110 North Wacker
Alternative namesBank of America Tower
General information
StatusCompleted
TypeOffice building
Address110 North Wacker Drive
Chicago, Illinois, U.S.
Coordinates41°53′01.4″N 87°38′14.7″W
Construction started2018
Topped-outSeptember 2019
Estimated completion2020
Height
Roof817 feet (249 m)
Technical details
Floor count57
Design and construction
Architect(s)Goettsch Partners
DeveloperHoward Hughes Corporation
Main contractorClark Construction

With a height of 816.83 feet (248.97 m) and containing 57 stories,[6][1] it is the tallest all-commercial building in Chicago since Two Prudential Plaza in 1990.[2] Bank of America has committed to leasing 500,000 square feet (46,000 m2) of office space in the building.[2] Perkins Coie has also signed a lease to the building.[7]

Construction
Two Caterpillar surround a half-demolished building in its surrounding rubble.
Demolition of the GGP building

The address was previously the site of the GGP building, which was constructed in 1958 and served as the headquarters of Morton Salt until 1990, after which it was the headquarters of General Growth Properties (GGP) starting in 1997.[8] The Howard Hughes Corporation and Riverside Investment & Development purchased the site in 2014, and plans for a new building were announced in early 2017, being approved by the Chicago Plan Commission in March and again in revised form in December.[9]

In 2017 GGP agreed to leave the premises starting in early 2018.[8] In August 2017 the Illinois Historic Preservation Agency found that the GGP building was eligible for the National Register of Historic Places,[8] which resulted in the United States Army Corps of Engineers giving public notice that demolition of the building would constitute an "adverse effect" on the surroundings.[10] This required a period for public comments and could have jeopardized the future of the development.[10] It was ultimately decided that some of the facade of the GGP building would be incorporated into the base of the new building, and the GGP building was demolished beginning in January 2018.[9]

Barges were used extensively in the construction of the new building, much of which also took place on the lower levels of the multi-level Wacker Drive.[2] An ordinance requiring open air for a riverwalk would have rendered the project uneconomical if interpreted literally, so the building was allowed to overhang the riverwalk by 55 feet (17 m).[2]

Sale

On December 28, 2021, it was announced that Callahan Capital Partners and Oak Hill Advisors had purchased 110 N. Wacker from Howard Hughes Corp. for more than $1B.[11][12]

References
  1. Ori, Ryan (October 1, 2019). "A new Wacker Drive skyscraper - the tallest office tower to be built in Chicago in the last three decades". Chicago Tribune. Retrieved February 15, 2020.
  2. LaTrace, AJ; Koziarz, Jay (May 9, 2017). "7 reasons why Chicago's 110 N. Wacker project isn't just another office building". Curbed. Retrieved February 15, 2020.
  3. Ecker, Danny (October 22, 2019). "Howard Hughes looks to sell new Wacker Drive skyscraper". Crain's Chicago Business. Retrieved February 15, 2020.
  4. "110 North Wacker". Clark Construction. Retrieved February 15, 2020.
  5. "110 North Wacker". Thornton Tomasetti. Retrieved March 23, 2022.
  6. "PD No. 1369, 110 N Wacker Dr" (PDF). gisapps.chicago.gov/. Department of Planning and Development City of Chicago. Retrieved October 10, 2020.
  7. Jordan, John (May 21, 2019). "Law Firm Signs 100K Lease at 110 North Wacker Drive". GlobeSt.com. Retrieved February 15, 2020.
  8. Ori, Ryan (December 8, 2017). "Riverside Wacker tower plan hits snag". Chicago Tribune. p. B2. Retrieved February 16, 2020 – via Newspapers.com.
  9. Koziarz, Jay (January 26, 2018). "General Growth Building ready to bite the dust for new riverfront office tower". Curbed. Retrieved February 16, 2020.
  10. Ori, Ryan (December 8, 2017). "Riverside Wacker tower plan hits snag". Chicago Tribune. p. B1. Retrieved February 16, 2020 – via Newspapers.com. icon of an open green padlock
  11. Grant, Peter (December 28, 2021). "Chicago Office Tower Valued at Over $1 Billion in Purchase by Oak Hill Advisors". The Wall Street Journal. Retrieved December 29, 2021.
  12. "Chicago investor in megadeal for Wacker Drive tower". Crain's Chicago Business. March 30, 2022.
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