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One Prudential Plaza

Office skyscraper in Chicago, Illinois From Wikipedia, the free encyclopedia

One Prudential Plazamap
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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]

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History of construction

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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]

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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]

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Tenants

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in 1964
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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

Thumb311 South Wacker111 South WackerChase Tower77 West WackerIBM PlazaAon CenterBlue Cross and Blue Shield TowerPark TowerHarbor Point

References

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