Plaza 440 Explained

Plaza 440
Location:440 North Wabash Avenue
Chicago, Illinois
Architectural:146.310NaN0[1]
Building Type:Residential
Floor Count:49
Completion Date:1992
Architect:Solomon Cordwell Buenz
Management:Community Specialists
Developer:John Buck Company
Coordinates:41.89°N -87.6266°W

Plaza 440 is a 49-story residential condominium building located in downtown Chicago, Illinois.

Originally built in 1992, it underwent a condominium conversion in 2005. The building contains 457 residential units[2] and shares a 2000000ft2 mixed-use development[3] with a 336-room Marriott hotel and a 400-space parking garage.[4] It rises from the northwest corner of Wabash and Hubbard streets in the River North district of Chicago's Near North Side.

Plaza 440 was designed by Solomon, Cordwell, Buenz and Associates,[5] built by the John Buck Company and originally managed by its subsidiary, the John Buck Management Group. The building opened to residents in October 1991, but construction was not fully completed until 1992. 90% of the building's units were leased by August 1992.[6] Plaza 440 was the last residential high-rise built in Chicago for years to come.[7]

The building was sold to American Invsco in September 2004 at a price of US$107 million. The previous owners, Archstone-Smith, had purchased the building two years previously for US$24 million.[8] This is the current equivalent of US$ and US$, respectively.

External links

Notes and References

  1. Web site: Plaza 440. Phorio. 2012-12-28.
  2. News: Condominium conversion is planned for Chicago's River North neighborhood. Corfman. Thomas A.. 2004-06-30. Chicago Tribune.
  3. News: Near North high-rise offers the luxury of open space. Moore. Judy. 1992-02-09. Chicago Sun-Times. 14.
  4. News: Perspectives: New Housing in Chicago; Where Bargains for Renters are 'Terrific'. Oser. Alan S.. 1992-05-03. The New York Times.
  5. Web site: About Plaza 440 Residences . 2008-12-08 . dead . https://web.archive.org/web/20080914182513/http://www.plaza440.org/about.html . September 14, 2008 .
  6. News: Convenient Plaza 440 Has No Problem Filling Units. Sall. Jon. 1992-08-16. Chicago Sun-Times. 5.
  7. News: Weighing the pros and cons of credit scoring Determined home sellers wouldn't buy defeat Upscale high-rise construction stalls in Chicago. Rumbler. Bill. Les Hausner . David Mack . 1997-03-23. Chicago Sun-Times. 4.
  8. Web site: Archstone Shuffles Its Multi-Family Portfolio with Sale and Buy. Elphinstone. J.W.. 2005-01-11. Commercial Property News Online. 2008-12-04.