Friday, 6 June 2014

Chicago Board of Trade Building, Chicago, Illinois, United States

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Chicago Board of Trade Building, Chicago, Illinois, United States

The Chicago Board of Trade Building is a skyscraper located in Chicago, Illinois, United States. It stands at 141 W. Jackson Boulevard at the foot of the LaSalle Street canyon, in the Loop community area in Cook County. Built in 1930 and first designated a Chicago Landmark on May 4, 1977, the building was listed as a National Historic Landmark on June 2, 1978. It was added to the National Register of Historic Places on June 16, 1978. Originally built for the Chicago Board of Trade (CBOT), it is now the primary trading venue for the derivatives exchange, the CME Group, formed in 2007 by the merger of the CBOT and the Chicago Mercantile Exchange. In 2012, the CME Group sold the CBOT Building to a consortium of real estate investors, including GlenStar Properties LLC and USAA Real Estate Company.

In 1925, the Chicago Board of Trade commissioned Holabird & Root to design the current building. The general contractors Hegeman & Harris built it for $11.3 million, although the reported twenty-year mortgage value was $12 million ($12 million in 1925 equates to about 160 million in 2014 dollars). Clad in gray Indiana limestone, topped with a copper pyramid roof, and standing on a site running 174 ft (53 m) east – west on Jackson Boulevard and 240 ft (73 m) north – south on LaSalle Street, the 605 ft (184 m) tall art deco-styled building opened on June 9, 1930. It serves as the southern border for the skyscrapers hugging LaSalle Street and is taller than surrounding structures for several blocks. Sources

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