From the Mag Mile to the Merc - We've Appraised It!
Chicago Edition of "You Appraised What?"
There’s not a skyscraper too high for us to climb nor a building too large with too many square feet for us to walk. We have valuated some of the most quintessential buildings spanning major cities across the United States. In this Chicago edition of “You Appraised What?” we are highlighting some of the most recognizable buildings right here in our own backyard.
Water Tower Place Shopping Mall located on the famous Magnificent Mile is a mixed-use retail and office space with 758,000 square feet and 74 stories. It was built in 1975 with reinforced concrete slab, faced with gray marble. It’s the eighth tallest building in Chicago and the twenty-sixth tallest in the United States. It’s the crown jewel of the “Mag Mile” and is credited with shifting the focus of Chicago’s retail epi-center from State Street to Michigan Avenue.
Chicago Mercantile Exchange (CME) Building, is a two-tower office building with 1,250,000 square feet and 40 floors. The CME has a rich storied past and was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. It was completed in 1987 and designed by Fujikawa Johnson.
Quaker Tower is named after its anchor tenant, the Quaker Oats Company, and is located on the Chicago river with 845,000 square feet and 38 floors. The tower was completed in 1981 and was built by BCE Development Properties. It was designed by Skidmore, Owings & Merrill as part of the Riverfront Plaza development on the north bank of the Chicago River. Quaker moved their headquarters in 2002.
Oakbrook Center Mall, a high-end luxury shopping mall located in Oak Brook, IL. with 2,018,000 square feet and 160 stores and services. The retail destination opened in 1962 with Sears, Marshall Field’s, and a Jewel Food Store as anchor tenants. It’s the second largest shopping mall in the Chicago-metro area and is now home to up-scale brands like Nordstrom, Nieman Marcus, Tesla, Tiffany’s and Louis Vuitton.
By the numbers of just these seminal properties in and around the Chicago metropolitan area, we’ve valuated over 4,871,000 square feet and more than 150 floors of real estate. Guess you could say our hearts – and our appraisal minds – will always be in Chicago!
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