Chicago Board of Trade Building
Chicago Board of Trade Building | |
Chicago Landmark | |
Holabird & Root | |
Architectural style | Art Deco
Floor count = 44 Height = 604 feet (184 m) |
---|---|
NRHP reference No. | 78003181[1] |
Significant dates | |
Added to NRHP | June 16, 1978 |
Designated NHL | June 2, 1978 |
Designated CL | May 4, 1977 |
The Chicago Board of Trade Building is a 44-story, 604-foot (184 m) Art Deco skyscraper located in the Chicago Loop, standing at the foot of the LaSalle Street canyon. Built in 1930 for the Chicago Board of Trade (CBOT), it has served as the primary trading venue of the CBOT and later 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.
The CBOT has been located at the site since 1885. A building designed by
The current structure is known for its Art Deco architecture, sculptures and large-scale
Early history
Early locations
On April 3, 1848, the Board of Trade opened for business at 101 South Water Street, in a room over the Gage and Haines Flour Store.[2][3] When 122 members were added in 1856, it was moved to the corner of South Water and LaSalle Streets. After another temporary relocation west on South Water Street in 1860, the first permanent home was established within the Chamber of Commerce Building on the corner of LaSalle and Washington Streets in 1865. In 1871, the Great Chicago Fire destroyed this building. The exchange temporarily reopened two weeks after the fire in a 90 feet (27 m) wooden building known as "the Wigwam" at the intersection of Washington and Market Streets,[4] before reclaiming its home in a new building constructed at the Chamber of Commerce site one year later.
1885 building
In 1882, construction began on the CBOT's new home, which opened at the current location on May 1, 1885. The building was designed by William W. Boyington, best known today for his work on the Chicago Water Tower. It faced Jackson Street with 180 ft (55 m) feet of frontage and was built from structural steel and granite taken from the Fox Island quarry near Vinalhaven, Maine. With a rear of enameled brick, it was 10 stories tall and featured a tower 320 ft (98 m) tall containing a large clock and 4,500 lb (2,000 kg; 320 st) bell, topped by a 9 ft (2.7 m) copper weather vane in the shape of a ship. The interiors were finished in mahogany and frescoed. Construction cost was $1.8 million.[citation needed][a] With four elevators and a great hall measuring 152 ft × 161 ft × 80 ft (46 m × 49 m × 24 m), decorated by a stained-glass skylight and ornate stone balusters,[7] it was the first commercial building in Chicago to have electric lighting.[8] It was also the first building in the city to exceed 300 ft (91 m) in height and at the time was the tallest building in Chicago. The building's formal dedication ceremonies, which were described by a contemporary as "brilliant and imposing", took place on April 29, 1885, and were attended by over four thousand persons including dignitaries from around the world.[5]
The building attracted tourists, visitors, and protesters. The inaugural banquet for the building opening was marched on by a sizable column of Chicago labor activists, under the International Working People's Association banner and led by Albert Parsons, Lucy Parsons, and Lizzie Holmes. "The building, on which two million dollars had been lavished in the midst of an economic depression, was denounced by the anarchists as ... the crowning symbol of all that was hateful in the private property system."[9] The procession were cheered by thousands of spectators. Their access to the Board of Trade was blocked by a phalanx of police, first at Jackson, then at LaSalle, finally coming to within a half-block of the building, "bathed in a sea of electric light only recently installed for the occasion".[9]
Viewing galleries were opened to the public for the first time in honor of the 1893
The 1885 allegorical architectural sculptures of 35 ft (11 m) Industry and Agriculture, two figures of a four-piece set, were removed from the original building and now stand in a nearby pedestrian plaza.[12]
1930 building
Architecture
In 1925, the Chicago Board of Trade commissioned
The advent of
Artwork
Sculptural work by Alvin Meyer, the one-time head of Holabird & Root's sculpture department, is prominent on the building's
The central structure is capped by a 6,500 pound, 31 ft (9.4 m) tall aluminum statue by sculptor
Commissioned in 1930 but removed from the agricultural trading room in 1973 and stored until 1982, John W. Norton's three-story mural of Ceres shown bare-breasted in a field of grain underwent extensive restoration in Spring Grove, Illinois, by Louis Pomerantz before being displayed in the atrium of the 1980s addition.[29][30]
Trading floor
According to the June 16, 1930, issue of
The trading area is surrounded by desks allowing workers to support transactions. In the early days, the desks served as a relay point between the pits and those wishing to buy or sell. When trade orders and information began to be communicated by telegraph, Morse code operators were employed, later replaced by phone operators.
Subsequent additions to the Board of Trade Building moved the agricultural and financial trading floors out of the original trading room and into new spaces in the additions to the building's rear in the 1980s. In 2004, the historic 1930 trading floor, already substantially altered (and unused for more than two years), was demolished and its pits filled with concrete. It was renovated in a modern style and is now leased to a privately owned options trading firm.[31]
Expansion
In 1980, the owners added a 275 ft (84 m) 23-story expansion to the south side of the building.
Collectively, the trading floors now encompass approximately 115,150 square feet (10,700 m2).
Renovation and 21st century
In 2005, the building underwent an extensive $20 million renovation directed by Chicago architect Gunny Harboe, whose restoration work included Loop landmarks the
When the old CBOT building was demolished in 1929, two 4.5
In September 2011,[42] the intersection of LaSalle Street and Jackson Boulevard in front of the building became the headquarters for the Occupy Chicago protest movement.[43][44] On April 23, 2013, the CME Group sold the north and south towers of the building at 141 W. Jackson Blvd. for $151.5 million to a joint venture between GlenStar Properties LLC and USAA Real Estate Co. The CME will retain ownership of the smaller east building at 333 S. LaSalle St. CME signed a 15-year lease for the 150,000 square feet (14,000 m2) it occupies in the two towers.[45]
Surroundings
The LaSalle Street canyon is home to other historic buildings including the
Other nearby buildings of note include the Continental Commercial National Bank, now called 208 South LaSalle Street, which broke records in 1911 as the city's most expensive development, with a cost exceeding $10 million. The Rand-McNally Building that had served as the headquarters of the World's Columbian Exposition was demolished to accommodate the structure.[49] The Federal Reserve Bank of Chicago, at 230 South LaSalle Street, was built in a Greco-Roman style and contained the largest vaults in the world and one of the first building-wide wired communication systems.[50] Both the Federal Reserve Bank and 208 South LaSalle demonstrate the popularity of neoclassical architecture during the late 19th and early 20th centuries and were meant to project a sense of financial security.[49]
One mile (1.6 km) west of
Tenants
The
Visitors
The CBOT building has been the site of a number of visits by dignitaries, including the
Awards and honors
- 1985: the 23-story addition won the Best Structure Award from the Structural Engineers Association of Illinois.[57]
- 2006: the building was awarded the Landmarks Illinois' annual Real Estate and Building Industries Council award for its preservation efforts.[58]
- 2006: the Building Owners and Managers Association of Chicago presented the CBOT building with The Office Building of the Year award recognizing the high quality of office space and excellence in management of the building.[59]
In popular culture
The 1885 building and
Trading operations have been used as scenes in movies such as
In Batman Begins, the Board of Trade Building represents the headquarters of Wayne Enterprises,[68] but in the 2008 sequel, The Dark Knight, Wayne Enterprises was represented by the Richard J. Daley Center.[69] The building itself appears in The Dark Knight.[70] The building was once again used to represent Wayne Enterprises in the television show Batwoman. In the 2022 reboot The Batman, the Board of Trade Building is digitally amalgamated with the Royal Liver Building to portray the Gotham City Police Department's headquarters.
Although depicted with the tower in a
At
The animated TV show Exosquad (US) features the Chicago Board of Trade Building as the location of “mandatory civil registration” for humans after the Neosapian government conquered the home worlds and renamed Chicago Phaeton City.
See also
- Chicago architecture
- List of tallest buildings in Chicago
Notes
References
Notes
- ^ "National Register of Historical Places – Illinois (IL), Cook County". National Register of Historic Places. Nationalregisterofhistoricplaces.com. Retrieved March 2, 2007.
- ^ Andreas, Alfred Theodore (1884). History of Chicago: Ending with the year 1857. p. 582.
- ISBN 9781459608146.
- ^ a b c d e f "Our History". Chicago Board of Trade. 2007. Archived from the original on January 11, 2004. Retrieved July 14, 2007.
- ^ a b Andreas, Alfred Theodore (1886). History of Chicago – From the Earliest Period to the Present Time – In Three Volumes – Volume III From the Fire of 1871 until 1885. Chicago: The A.T. Andreas Company, Publishers. p. 598.
- ^ a b c 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.
- ^ "Vicinity of the Board of Trade (12. The Board of Trade Building)". The Board of Trustees of the University of Illinois. Archived from the original on May 30, 2012. Retrieved July 14, 2007.
- ^ "Architectural Details" (PDF). The Chicago Architecture Foundation. Archived from the original (PDF) on March 26, 2009. Retrieved July 14, 2007.
- ^ ISBN 0-691-00600-8.
- ^ Zaloom, p. 27
- ^ a b Roeder, David (June 9, 2005). "CBOT statues return home from suburbs". Chicago Sun-Times. Retrieved October 6, 2008 – via Newsbank.
- ^ "Art Inventories Catalogue (Chicago Board of Trade Building Reliefs:), (Agriculture and Industry), (sculpture)". Smithsonian Institution. 2004. Retrieved July 2, 2007.
- ^ Bruegmann, p. 23
- ^ Bruegmann, p. 34
- ISBN 978-1-4620-4206-7.
- ^ "Chicago Board of Trade Building". Commission on Chicago Landmarks, Historic Preservation Division of Chicago Department of Housing and Economic Development. Retrieved February 11, 2012.
- ^ "National Historic Landmarks Survey: Listing of National Historic Landmarks by State: Illinois" (PDF). National Park Service. Archived from the original (PDF) on February 28, 2011. Retrieved July 14, 2007.
- ^ "Chicago Board of Trade Building". National Park Service. Archived from the original on December 7, 2007. Retrieved March 30, 2007.
- ^ Saliga, Pauline A. (ed.), p. 113.
- ^ Lane, Sally. "A Brief History of Trenton" (PDF). New Jersey Institute of Technology. Archived from the original (PDF) on December 3, 2007. Retrieved August 4, 2007.
- ^ "Social Science Docket" (PDF). New York and New Jersey State Councils for Social Studies. Archived from the original (PDF) on September 28, 2007. Retrieved August 4, 2007.
- ^ Bruegmann, p. 39
- ^ Bruegmann, p. 35
- ^ Zaloom, p. 28
- ^ "Art Inventories Catalogue (Chicago Board of Trade Building Reliefs: Babylonian Farmer), (sculpture)". Smithsonian Institution. 2004. Retrieved July 2, 2007.
- ^ "Art Inventories Catalogue (Chicago Board of Trade Building Reliefs: American Indian), (sculpture)". Smithsonian Institution. 2004. Retrieved July 2, 2007.
- ISBN 978-0-471-53057-2. Retrieved August 13, 2007.
- ^ "Ceres in Chicago". Time. June 16, 1930. Archived from the original on September 30, 2007. Retrieved July 14, 2007.
- ^ Artner, Alan G. (July 28, 2004). "A dozen visual gems you probably won't find listed in a travel guide". Chicago Tribune. Retrieved July 14, 2007.
- ^ Pomerantz, Louis (1984). "Treatment and Mounting of Ceres, a Large Mural Painting on Fabric by John Norton". Journal of the American Institute for Conservation. Archived from the original on April 8, 2009. Retrieved August 5, 2007.
- ^ "CBOT Leases 1930 Trading Floor to PEAK6". PEAK6 Investments, LP. February 24, 2004. Archived from the original on February 18, 2007. Retrieved March 16, 2007.
- ^ Zaloom, p. 45
- ^ a b Gidel, Susan Abbott (December 1999 – January 2000). "History of CBOT". Futures Industry Magazine. Retrieved July 14, 2007.
- ^ Feder, Barnaby J. (February 17, 1997). "Face Lift at Board of Trade: High Tech, Say Hello to Primal Instinct". The New York Times. Retrieved August 4, 2007.
- ^ Wahler, Tracy (December 1997 – January 1998). "Plugging in the Pit". Futures Industry Magazine. Retrieved August 2, 2007.
- ^ Board of Trade of the City of Chicago Inc (January 26, 2001). "SEC Info – Board of Trade of the City of Chicago Inc". Fran Finnegan and Company. Retrieved August 5, 2007.
- ^ Saliga, Pauline A. (ed.), pp. 159–60.
- ^ Kamin, Blair (August 6, 2006). "Deco Resurrection-Striking $20 million Board of Trade restoration reveals Jazz Age skyscraper's inner beauty". Chicago Tribune. Newsbank. Retrieved October 6, 2008.
- ^ "Renovations". Chicago Board of Trade. 2008. Archived from the original on October 5, 2008. Retrieved October 6, 2008.
- ^ a b c "Building Insight" (PDF). Chicago Board of Trade. Spring 2006. Archived from the original (PDF) on June 21, 2006. Retrieved August 2, 2007.
- ^ Adams, Rachel (May 4, 2004). "Chicago Statues May Come Home". Preservation. Archived from the original on July 11, 2012. Retrieved October 6, 2008.
- ^ Ramos, Elliott (October 5, 2011). "'WE ARE THE 1%' signs a flip jab at 'Occupy Chicago' movement". WBEZ. Retrieved January 23, 2013.
- ^ Haggerty, Ryan (November 17, 2011). "Occupy Chicago demonstrators block LaSalle Street bridge, Loop streets". Chicago Tribune. Retrieved January 23, 2013.
- ^ Roeder, David (October 10, 2011). "Occupy Chicago spreads message through downtown". Chicago Sun-Times. Archived from the original on January 24, 2012. Retrieved January 23, 2013.
- ^ Cancino, Alejandra (April 23, 2012). "CME sells 2 CBOT buildings for $151M". Chicago Tribune. Retrieved November 22, 2013.
- ^ "Rookery Building". City of Chicago Department of Planning and Development, Landmarks Division. 2003. Archived from the original on September 25, 2007. Retrieved August 2, 2007.
- ^ "City Hall". City of Chicago Department of Planning and Development, Landmarks Division. 2003. Archived from the original on June 26, 2007. Retrieved August 2, 2007.
- ^ "Chicago City Hall Green Roof". American Society of Landscape Architects. 2002. Retrieved August 2, 2007.
- ^ a b O'Donnell, Nora (October 2006). "The View from My Window". Chicago. Retrieved August 3, 2007.
- ^ "Our Building". Federal Reserve Bank of Chicago. Archived from the original on February 15, 2004. Retrieved August 3, 2007.
- ^ Saphir, Ann (February 20, 2007). "Former Eurex US to move to CBOT building". ChicagoBusiness. Crain Communications, Inc. Retrieved July 14, 2007.
- ^ Brian Louis (July 13, 2007). "For sale in Chicago: Huge room, no windows". Bloomberg News. Archived from the original on December 2, 2008. Retrieved July 17, 2007.
- ^ Jacob Bunge (April 23, 2012). "CME Sells CBOT Building for $151.5 Million". Wall Street Journal. Archived from the original on June 11, 2015. Retrieved November 20, 2013.
- ^ "George Bush: Remarks to the Chicago Board of Trade". The American Presidency Project. University of California, Santa Barbara. December 10, 1991. Retrieved August 2, 2007.
- ^ Foster, Stella (August 1, 2006). "Stella's Column". Chicago Sun-Times. City Club of Chicago. Archived from the original on October 10, 2006. Retrieved February 26, 2007.
- ^ "President Discusses Strong and Growing Economy". The White House – Office of the Press Secretary. January 6, 2006. Retrieved July 14, 2007.
- ^ Thornton-Tomassetti Engineering. "Columbia Faculty, Richard L. Tomasetti, P.E" (PDF). Columbia University. Archived from the original (PDF) on June 9, 2007. Retrieved August 2, 2007.
- ^ "And The Winner Is ..." (PDF). Chicago Board of Trade. 2006. Archived from the original (PDF) on October 28, 2008. Retrieved October 6, 2008.
- ^ "CBOT Building Wins 2007 TOBY Award for Historical Building". Chicago Board of Trade. 2008. Archived from the original on October 5, 2008. Retrieved October 6, 2008.
- ^ McElrath, Joseph R. Jr.; Crisler, Jesse S. (2007). "A Life". Board of Trustees of the University of Illinois. Archived from the original on August 17, 2007. Retrieved August 6, 2007.
- ^ Hanson, Victor Davis (January 1, 2006). "Zola in San Francisco". The New York Times. Retrieved August 6, 2007.
- ISBN 978-0-7679-0855-9).
- ^ "Ferris Bueller's Day Off – Filming Locations". Britannia Film Archives. 2007. Retrieved July 31, 2007.
- ^ "Enjoy Illinois: Illinois Bureau of Tourism". Illinois Department of Commerce and Economic Opportunity. Archived from the original on May 19, 2007. Retrieved August 5, 2007.
- ^ Nance, Kevin (June 15, 2006). "Chicago architecture at home in 'Lake House': Movie takes Hollywood's affair with Windy City landmarks to a new level". Chicago Sun-Times. Newsbank. Retrieved October 6, 2008.
- ^ "The Untouchables". rogerebert.com. June 3, 1987. Archived from the original on March 26, 2013. Retrieved August 17, 2007.
- ^ "Robots destroy Chicago in new 'Transformers: Dark of the Moon' trailer". Chicago Tribune. 2011. Retrieved September 2, 2013.
- ^ Ebert, Roger (June 13, 2005). "Batman Begins". Chicago Sun-Times. Retrieved February 25, 2007.
- ^ Palmer, Dan (July 29, 2008). "Mies's Gotham". Confessions of a Preservationist. The Landmark Society of Western New York, Inc. Retrieved August 4, 2008.
- ^ "Chicago Board of Trade". Chicago Architecture. Archived from the original on March 21, 2012. Retrieved August 2, 2010.
- ^ Austen, Jake (October 2, 2008). "Soul Train Local". Chicago Reader. Creative Loafing Media. Retrieved October 23, 2008.
- ^ Merrion, Paul (September 7, 2011). "Willis Tower, CBOT Building star in Superman filming". ChicagoBusiness. Retrieved July 26, 2013.
- ^ Apatoff, David (December 17, 2005). "Leslie Ragan: Clouds and Steam". Retrieved March 20, 2008.
- ^ "The City as Artifact". Chicago Historical Society. Retrieved August 5, 2007.
- ^ "Mural, Homage to the Chicago School, by Richard Haas, 1980". Chicago Historical Society. Retrieved August 5, 2007.
- ^ Isaacs, Deanna (November 3, 2006). "The Case of the Missing Maquettes". Chicago Reader. Archived from the original on September 27, 2007. Retrieved August 5, 2007.
References cited
- Bruegmann, Robert, (1991). Holabird & Roche, Holabird & Root, Garland Publishing, Inc., ISBN 0-8240-3974-2.
- Saliga, Pauline A. (ed.), (1990). The Sky's The Limit: A Century of Chicago Skyscrapers, Rizzoli International Publications, Inc., ISBN 0-8478-1179-4.
- Zaloom, Caitlin (November 2006). Out of the Pits: Traders and Technology from Chicago to London, Second edition, University of Chicago Press. ISBN 0-226-97813-3. Available to read through Google Preview. Retrieved on August 2, 2007.