One Prudential Plaza Explained

One Prudential Plaza
Former Names:	Prudential Building
Location:	130 E. Randolph St. Chicago, Illinois United States
Coordinates:	41.8849°N -87.6233°W
Status:	Complete
Roof:	601feet
Antenna Spire:	912feet
Floor Count:	41
Completion Date:	1955
Floor Area:	1762989ft2
Architect:	Naess & Murphy
Main Contractor:	George A. Fuller Co.
Structural Engineer:	Naess & Murphy

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]

History of construction

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. 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

• Hillrom Corporate Headquarters^[7]
• Society of Women Engineers — Global Headquarters, 35th Floor^[8]
• American Institute of Steel Construction^[9]
• Wilson Sporting Goods^[10]
• Marketing Werks^[11]
• Cision^[12]
• Conversion Alliance^[13]
• No Limit Agency^[14]
• Chicago Federation of Labor^[15]
• McGraw Hill (Education And Test Prep Editorial)^[16]
• Vanderbilt Office Properties^[17]
• Envisionit Agency^[18]
• S&P Global Ratings^[19]
• Bowman, Barrett & Associates Inc.^[20]
• OppLoans^[21]
• Hubbard Chicago^[22]
• Painters District Council 14^[23]
• Optiver^[24]

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

• List of buildings and structures
• List of tallest buildings in Chicago
• List of tallest buildings in the United States
• List of tallest buildings in the world
• World's tallest structures

External links

• The Real Deal
  • Emporis entry for One Prudential Plaza
• Olshan Frome Wolosky LLP

Notes and References

1. News: Too prudent Two Pru design is functional but uninspired. Gapp. Paul. Chicago Tribune. December 23, 1990. 3. subscription .
2. News: Dedicate New Prudential 41 Story Building . Fuller . Ernest . December 9, 1955 . . September 3, 2017.
3. News: CHARLES F. MURPHY, CHICAGO ARCHITECT. Heise. Kenan. chicagotribune.com. 2018-10-12. en-US.
4. News: May 30, 2006. BentleyForbes secures financing for Prudential Plaza purchase. Alby. Gallun. Crain's Chicago Business. September 3, 2017.
5. News: September 8, 2015. Prudential Plaza gets new $415 million loan. Ryan . Ori. Crain's Chicago Business. September 3, 2017.
6. Gleicher Leads NY Investors in Acquisition of Controlling Interest of Chicago's Prudential Plaza Office Towers. June 6, 2013. Olshan Frome Wolosky LLP.
7. Web site: Contact Us.
8. Web site: Media Kit . Society of Women Engineers . September 3, 2017.
9. Web site: About Us . AISC . September 3, 2017.
10. Web site: Contact Us . www.wilson.com . 26 July 2017 . 12 November 2018.
11. Web site: Contact . Marketing Werks . 12 November 2018.
12. Web site: Update or Add Your Outlet Profile - Cision . Cision . 12 November 2018.
13. Web site: Contact Us Conversion Alliance - Chicago Marketing Agency . Conversion Alliance . 12 November 2018.
14. Web site: About - No Limit Agency . No Limit Agency.
15. Web site: Contact Us . Chicago Federation of Labor . 12 November 2018 . en.
16. Web site: Education and Test Prep Editorial Contacts . McGraw Hill Education . 12 November 2018.
17. Web site: Contact . Vanderbilt Office Properties . 12 November 2018.
18. Web site: Contact Us - envisionit . envisionit . 12 November 2018.
19. Web site: Office and Affiliate Locations - S&P Global Ratings . www.spratings.com . 12 November 2018.
20. Web site: Contact Us . www.bbandainc.com . 12 November 2018 . en.
21. Web site: Contact Us - OppLoans . OppLoans.
22. Web site: Chicago . Hubbard . Contact Hubbard Chicago . www.hubbardchicago.com . 12 November 2018 . en.
23. Web site: Contact Us - Painters District Council 14 . pdc14.com . 12 November 2018 . en.
24. Web site: 2022-07-04 . Contact - Optiver . 2022-11-12 . optiver.com . en-US.
25. Web site: Farewell to Tribune Tower: Friday we pack our boxes and depart what has been this newspaper's home. Rick. Kogan. Chicago Tribune.
26. Web site: Ori . Ryan . 2021-01-11 . Chicago Tribune to exit Prudential Plaza, move newsroom to printing facility . 2024-02-10 . Chicago Tribune . en-US.