Historic Office Building
1,600,000 Square Feet
In 1998, American Landmark Properties purchased the 1.6 million square foot Insurance Exchange Building at 175 West Jackson. This 1914 vintage, Class C property was formally owned by Helmsley-Spear and was only 30% leased to poor credit tenants at the time of acquisition. In addition, the property was in a state of overall disrepair and required major renovation to compete in the market. American Landmark Properties completely renovated this Chicago landmark in 2000. This major renovation project included: exterior cleaning and façade work, new entrances and canopies, new lobbies, a new 22-story atrium with a 6,000 square foot skylight, telecommunications systems, elevators and an entirely new 400-stall parking garage. The total cost of this comprehensive renovation program exceeded $160 million. The Insurance Exchange Building renovation received numerous accolades and American Landmark Properties successfully transformed the building to Class A status. This enabled American Landmark Properties to lease the building to over 95% occupancy.