Howard Hughes, Riverside Open 55-Story Office Tower Along Chicago River
CHICAGO — The Howard Hughes Corp. and Riverside Investment & Development have opened 110 North Wacker Drive, a 55-story office tower situated along the Chicago River. The 1.5 million-square-foot project is the tallest office building completed in the city in the last three decades, according to the developers.
Bank of America is the anchor tenant. Other opening-day tenants include real estate investment advisor Heitman, global investment bank Lincoln International and law firms Jones Day and Morgan Lewis.
Construction began in summer of 2018. Although no development cost was disclosed, Bank of America and JP Morgan Chase provided a $495 million construction loan at that time.
The Class A tower features a 45-foot-wide riverwalk on its ground level. The covered area, which connects two downtown pedestrian paths and a small park, offers 22,000 square feet of public space.
The project features technology designed to maximize overall health and wellness. This includes best-in-class HVAC systems, advanced dispatch elevators and a customized app that provides touchless building access, transportation information, event listings and the ability to book fitness and spa activity.
Several enhancements have been added to address COVID-19 concerns, including advanced secondary air filtration systems, more air changes per hour than most office buildings, social-distancing limitations on elevators and touchless access.
Developers of new-construction projects are in a unique position to adapt to changing workplace strategies and incorporate health and wellness features, according to CBRE, which tracked an office vacancy rate of 13.9 percent for Chicago’s central business district in the second quarter of 2020.
In addition to fitness facilities and event spaces, 110 North Wacker Drive features a concierge program and dining options led by Jose Andres’ ThinkFoodGroup and Chicago’s own Gibsons Restaurant Group.
Goettsch Partners served as architect while Clark Construction was the general contractor. CBRE is handling leasing efforts.
Howard Hughes owns, manages and develops commercial, residential and mixed-use real estate throughout the United States. Riverside is a Chicago-based development firm.
“Three years ago, we set out to create a world-class office building,” says David O’Reilly, interim CEO, president and CFO of Howard Hughes. “We’ve delivered on our vision to add to the iconic Chicago skyline with a building located on a historic site that incorporates the best of every aspect of the tenant experience, including health and wellness elements that people are demanding today.”
— Kristin Hiller