CHICAGO--(BUSINESS WIRE)--Chicago’s historic Wrigley Building is now officially a Chicago Landmark approved by the City of Chicago City Council. In February, The Commission on Chicago Landmarks had unanimously approved a recommendation to give landmark status to the building which includes two towers at 400 and 410 North Michigan and also supported a Class L property tax classification for the property.
Extensive renovation plans that preserve and protect the exterior façade and historically significant interior building components of one of Chicago’s most recognized buildings are in the final stages of approval by city, state and federal historic preservation agencies. Modernization of the building’s systems, interiors and amenities to fit today’s workforce needs will also begin later this month after all required building permits are issued by the City of Chicago.
The Wrigley Building is owned by a consortium of investors led by BDT Capital Partners and includes Zeller Realty Group, Eric Lefkofsky and Brad Keywell personally, as minority investors. Zeller Realty Group is serving as development manager and is responsible for leasing and managing the property.
“I commend the city's Landmarks Commission for declaring The Wrigley Building a historic landmark,” said Mayor Emanuel. “Respecting and preserving our city's unique architectural history is important and can be done in concert with the city's economic development and job creation goals. This creates a positive situation for all involved and allows Chicago to move forward while honoring its past.”
“We are pleased that The Wrigley Building’s historical legacy will be protected, and we are committed to its preservation as we now embark upon our extensive redevelopment plans,” said E. Robbie Robinson, Principal, BDT Capital Partners. “We, along with our partners, will ensure that The Wrigley Building is revitalized and remains a dynamic part of the economic growth of Chicago.”
“The Wrigley Building has long been considered one of our great architectural gems and now we can celebrate this property as an official Chicago Landmark,” said Alderman Brendan Reilly (42nd). “I look forward to working with the new owners to assist in the renovation and repositioning of this iconic structure.”
Renovation plans include extensive infrastructure improvements including HVAC equipment and control system upgrades, sprinkler system installation, electrical service expansion and a new fire alarm system. Obsolete office floor area space will be demolished and upgraded to modern standards, including new toilet rooms and corridors. Both main lobbies will be fully renovated with timeless, high quality stone, mahogany and detailed plaster finishes that complement the historic bronze elevators and clock details which will be retained. Additionally, new energy efficient windows will be installed on the office floors.
Retail development plans to expand upscale retail space at the first, second and lower levels of both towers include adding a new fine dining restaurant to replace the vacant 410 Club along with high-end apparel, food and entertainment retailers.
Plans also include repairs to the city-owned bridge over lower East North Water Street as well as a new decorative stone walking surface on the plaza. The white glass and metal cladding at the vacant 410 Club entrance will be replaced with terra cotta and a new bronze storefront with added retail entrances off the plaza. The non-historic glass and wood wall separating the plaza from Michigan Avenue will be removed to create an elegant and inviting gateway to the plaza.
“The scope and design of The Wrigley Building redevelopment is being finalized and we expect construction to begin in late June with the majority of improvements to be completed by the summer of 2014,” said Ari Glass, senior vice president with Zeller Realty Group. “We are excited to begin welcoming tenants as early as this fall to renovated space in this internationally renowned destination.”