The Howard Hughes Corporation received unanimous approval at today’s Chicago Plan Commission meeting for its future trophy-class office tower building to be built at 110 North Wacker Drive, in collaboration with Riverside Investment & Development, Goettsch Partners and CBRE – the development, design and leasing team behind the recently completed 150 North Riverside Plaza office tower. With its prominent riverfront location, 110 North Wacker is a highly desirable office development site in the heart of the city, designed to be a dynamic addition to Chicago’s iconic skyline.
Set between prestigious Wacker Drive and the Chicago River, the 51-story Class-A skyscraper building is being designed by Chicago-based Goettsch Partners, internationally renowned for their exceptional high-rise design and technical expertise. The 1.35 million-square-foot tower is wrapped in a high-performance, aluminum-and-glass curtain wall and will feature sweeping views up and down the river, as well as of the Chicago skyline and Lake Michigan. The tower will also feature an abundance of first-class modern amenities, including retail and dining options, a conference center, a fitness facility and state-of-the-art building systems.
“Our vision is to deliver the next evolution of premier office space in the heart of Chicago. This project is generating a tremendous amount of tenant interest in this one-of-a-kind building,” said Grant Herlitz, President of The Howard Hughes Corporation. “With Riverside, Goettsch Partners and Drew Nieman’s group from CBRE, we have assembled a team with a proven track record for creating iconic office buildings in Chicago. We are pleased to be advancing through the city process and look forward to next steps.”
“One of the few office building sites in downtown Chicago bounded by three streets and the Chicago River, 110 North Wacker Drive is the last premier office site in Chicago offering unmatched views of and from the building.” said James Goettsch, FAIA, Chairman and CEO of Goettsch Partners. “The site’s trapezoidal shape allows us to provide a series of stepped projections on the western façade, enhancing views up and down the river, emphasizing the building’s verticality and providing the building with a distinct identity. At street level, almost half of the site is publicly accessible and features a soaring covered riverwalk, supported by a distinctive structural design.”
The project includes a voluntary $19.55 million payment into the City’s Neighborhood Opportunity Bonus system due to its size. Eighty percent of bonus system payments are allocated to the Neighborhood Opportunity Fund to support commercial corridor improvements in underserved neighborhoods. The remainder is split in support of designated landmarks across the city and infrastructure improvements near the development site.
“This project will add to Chicago’s skyline while continuing to build on our thriving riverfront,” Mayor Rahm Emanuel said. “It will also benefit every corner of Chicago by making the largest-to-date commitment to the Neighborhood Opportunity Fund, which is designed to drive economic activity and create amenities in our neighborhoods that need it most.”
The new high-rise will take approximately two and a half years to build. A construction start date has not been finalized.
Additional information is available at www.110NorthWacker.com.