Two_Prudential_Plaza

Two Prudential Plaza

Two Prudential Plaza

Skyscraper in the Loop area of Chicago, Illinois

Two Prudential Plaza is a 64-story skyscraper located in the Loop area of Chicago, Illinois. At 995 feet (303 m) tall, it is the seventh-tallest building in Chicago as of 2022 and the 28th-tallest in the U.S., being only five feet from 1,000 feet, making it the closest of any building under 1,000.[1] Built in 1990, the building was designed by the firm Loebl Schlossman & Hackl, with Stephen T. Wright as the principal in charge of design.[2] It has received eight awards, including winning the Best Structure Award from the Structural Engineers Association of Illinois in 1995.[3]

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History

Construction started in 1988, and Two Prudential Plaza was completed in 1990. At the time of completion, Two Prudential was the world's tallest reinforced concrete building. Its distinctive shape features stacked chevron setbacks on the north and south sides, a pyramidal peak rotated 45°, and an 80-foot (24 m) spire.

The building is attached to One Prudential Plaza (formerly known as the Prudential Building) since 1992. Without its spire, the building's height is still slightly greater than that of One Prudential Plaza's pinnacle.[3]

In May 2006, BentleyForbes, a Los Angeles–based real estate investment firm run by Frederick Wehba and his family, purchased Two Prudential Plaza, along with its sister property, One Prudential Plaza for $470 million (equivalent to $710 million in 2023[4]).[5]

In 2015, BentleyForbes defaulted on the mortgage for the towers due to the Great Recession and New York–based investors 601W Companies and Berkley Properties took control of the property after investing more than $100 million (more than $129 million in 2023[4]) in equity to recapitalize.[6] BentleyForbes continues to have an interest in the owning partnership.[7]

Tenants

The Consulate General of Canada in Chicago is located in Suite 2400.[8] The Flag of Canada is flown next to that of the United States in the building's Lake Street plaza.

Audacy occupies the ninth to twelfth floors, including WBBM, WBBM-FM, WBMX, WXRT, WUSN, WSCR and WCFS.

The building and the plaza appear in the 1994 film Richie Rich as Rich Industries Inc.[9]

Position in Chicago's skyline

311 South Wacker111 South WackerChase Tower77 West WackerIBM PlazaAon CenterBlue Cross and Blue Shield TowerPark TowerHarbor Point
Two Prudential Plaza
  • Pictured in 2015
  • Pictured in 2006
  • Building top in 2014
  • 2004 with the Smurfit-Stone in foreground
  • Aon Center
  • Grant Park North
  • Three Chicago Towers
  • 2006
  • From Lake Shore Drive

See also

References

  1. [1]
    "Two Prudential Plaza - The Skyscraper Center". Council on Tall Buildings and Urban Habitat. Archived from the original on 2013-02-02.
  2. [2]
    Gapp, Paul (December 23, 1990). "Too prudent Two Pru design is functional but uninspired". Chicago Tribune. p. 3.
  3. [3]
    "Two Prudential Plaza, Chicago". Emporis. Archived from the original on January 2, 2007. Retrieved 2009-07-17.
  4. [4]
    1634–1699: McCusker, J. J. (1997). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda (PDF). American Antiquarian Society. 1700–1799: McCusker, J. J. (1992). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States (PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved February 29, 2024.
  5. [5]
    Gallun, Alby (May 30, 2006). "BentleyForbes secures financing for Prudential Plaza purchase". Crain's Chicago Business. Retrieved September 3, 2017.
  6. [6]
    Ori, Ryan (September 8, 2015). "Prudential Plaza gets new $415 million loan". Crain's Chicago Business. Retrieved September 3, 2017.
  7. [7]
    "Gleicher Leads NY Investors in Acquisition of Controlling Interest of Chicago's Prudential Plaza Office Towers". Olshan Frome Wolosky LLP (Press release). June 6, 2013.
  8. [8]
    "Contact Us Archived 2009-04-04 at the Wayback Machine." Consulate-General of Canada in Chicago. Retrieved on January 31, 2009.
  9. [9]
    Nicole, Alycia (March 23, 2011). "Chicago's Most Famous Movie Spots". WBBM News. Retrieved 2016-02-10.
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