Plaza 440
Plaza 440 (center) as seen from the Michigan Avenue Bridge. Also in this photo: Trump Tower Chicago (left), River Plaza (right), Wrigley Building (seen both on the right and on the left as a reflection off the Trump Tower glass windows).
General information
TypeResidential
Location440 North Wabash Avenue
Chicago, Illinois
Coordinates41°53′24″N 87°37′36″W / 41.889998°N 87.626646°W / 41.889998; -87.626646Coordinates: 41°53′24″N 87°37′36″W / 41.889998°N 87.626646°W / 41.889998; -87.626646
Completed1992
ManagementCommunity Specialists
Height
Architectural146.31 m (480 ft)[1]
Technical details
Floor count49
Design and construction
ArchitectSolomon Cordwell Buenz
DeveloperJohn Buck Company

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 2,000,000-square-foot (190,000 m2) 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.[3] 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$145 million and US$34 million, respectively.[9]

References

  1. ^ "Plaza 440". Phorio. Retrieved 2012-12-28.
  2. ^ Corfman, Thomas A. (2004-06-30). "Condominium conversion is planned for Chicago's River North neighborhood". Chicago Tribune.
  3. ^ a b Moore, Judy (1992-02-09). "Near North high-rise offers the luxury of open space". Chicago Sun-Times. p. 14.
  4. ^ Oser, Alan S. (1992-05-03). "Perspectives: New Housing in Chicago; Where Bargains for Renters are 'Terrific'". The New York Times.
  5. ^ "About Plaza 440 Residences". Archived from the original on September 14, 2008. Retrieved 2008-12-08.
  6. ^ Sall, Jon (1992-08-16). "Convenient Plaza 440 Has No Problem Filling Units". Chicago Sun-Times. p. 5.
  7. ^ Rumbler, Bill; Les Hausner; David Mack (1997-03-23). "Weighing the pros and cons of credit scoring Determined home sellers wouldn't buy defeat Upscale high-rise construction stalls in Chicago". Chicago Sun-Times. p. 4.
  8. ^ Elphinstone, J.W. (2005-01-11). "Archstone Shuffles Its Multi-Family Portfolio with Sale and Buy". Commercial Property News Online. Retrieved 2008-12-04.[permanent dead link]
  9. ^ Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved January 1, 2020.