Market Overview

The Howard Hughes Corporation® Announces Opening Of 110 North Wacker Drive Office Building

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CHICAGO, Oct. 14, 2020 /PRNewswire/ -- The Howard Hughes Corporation® (NYSE:HHC) and Riverside Investment & Development announced today the opening of the trophy-class office tower at 110 North Wacker Drive. The announcement marks the culmination of the highly-anticipated 55-story downtown riverfront building, which is a collaboration with the award-winning leasing, design and construction team of CBRE, Goettsch Partners and Clark Construction.

"Three years ago, we set out to create a world-class office building like 110 North Wacker Drive, and we are proud today to showcase this exceptional trophy-class property located in the heart of downtown Chicago," said David R. O'Reilly, Interim Chief Executive Officer; President and CFO of The Howard Hughes Corporation. "From the onset of this project, we aimed to infuse insights and best practices from our various master planned developments across the country with local market expertise from some of the industry's leading and award-winning developers and designers. Through our collaboration with Riverside Investment & Development and Goettsch Partners, we've delivered on our vision to add to the iconic Chicago skyline with a building located on a historic site that incorporates the best of every aspect of the tenant experience, including health and wellness elements that people are demanding today."

Situated along the Chicago River, 110 North Wacker Drive is both the city's tallest office building and the second-largest office building to be delivered in three decades, totaling 55 stories and more than 1.5 million rentable square feet. The state-of-the-art Class A office tower's distinctive form accentuates its verticality and extensive integration of open space throughout the building, beginning at ground level with an expansive 45-foot-wide riverwalk. The landscaped, covered riverfront promenade connects two important downtown pedestrian paths and a small park at the north and maintains an effectively unobstructed river view, offering roughly 22,000 square feet of combined public space.

Additionally, the tower's 45-foot-high lobby is enclosed by a cable-supported glass wall, and sculpted, folded-limestone cladding covers the elevator cores. The transparency of the low-iron glass wall virtually eliminates the distinction between interior and exterior space, with the lobby and streetscape becoming one. The unique sawtooth design of the west- and river-facing geometry of the building enhances the trapezoidal shape of the site to present 14 corner opportunities per floor and extraordinary views up and down the Chicago River.

"The best high-rise buildings successfully manage the marriage of commerce and culture," said James Goettsch, Chairman and Co-Chief Executive Officer of Goettsch Partners. "Given its unique site along the iconic Chicago River, my hope is that 110 North Wacker Drive will be looked upon as a building that is both a successful commercial endeavor, as well as a development that enhances the public realm and continues Chicago's tradition of innovative architecture."

The building features extensive high-technology infrastructure designed to maximize overall health and wellness throughout. This includes best-in-class HVAC systems; the most advanced destination dispatch elevators in Chicago; and a multi-faceted, custom building app that provides touchless building access, transportation information, event listings and a portal to book any fitness and spa activity, among other health and safety measures. Several enhancements have been added to address COVID pandemic concerns, including advanced secondary air filtration systems, more air changes per hour than most office buildings, social-distancing limitations on elevators, and touchless access in many conditions.

"110 North Wacker Drive is one of the most sought-after development locations in Chicago for decades," said John O'Donnell, Chief Executive Officer of Riverside Investment and Development. "It has been a privilege to work alongside the development team of The Howard Hughes Corporation, as well as once again partnering with Goettsch Partners to collectively deliver a high-rise that will leave its mark on the Chicago skyline for years to come."

Since the beginning, 110 North Wacker Drive, with its desirable location, high-quality mix of state-of-the-art fitness facilities, concierge program, event spaces and other amenities, along with extensive new dining options by Jose Andres' ThinkFoodGroup and Chicago's own Gibsons Restaurant Group, has exhibited exceptional pre-leasing momentum. The combination of Bank of America as the dominant financial institution anchor tenant along with numerous additional sector-leading tenants—including leading real estate investment advisor Heitman, global investment bank Lincoln International, and top-10 Am Law 100 firms Jones Day and Morgan Lewis—has resulted in a strong blend of tenant diversification and stability.

"We are excited to solidify 110 North Wacker Drive's place in Chicago's iconic skyline and contribute to the city's downtown landscape as we begin to welcome businesses, residents and visitors alike to this one-of-a-kind destination," added O'Reilly.

Additional information for the office tower, a collaboration led by The Howard Hughes Corporation and Riverside Investment and Development—along with the award-winning teams of Goettsch Partners for design, Clark Construction, and CBRE—is available at www.110NorthWacker.com. 

About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country's preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: The Seaport District in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawaiʻi. The Howard Hughes Corporation's portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com.

About Riverside Investment and Development
Riverside Investment and Development Company is a multi-faceted real estate firm based out of Chicago, Illinois. Founded in 2010 by John O'Donnell, a longtime Chicago real estate veteran with more than 30 years and 40 million square feet of investment, development, and redevelopment experience, Riverside is focused on the pursuit of complex development and redevelopment opportunities. We aggressively manage risk via detailed front-end evaluation and planning, selective locational focus, and a willingness to form strategic relationships where appropriate for a particular transaction. Our relationships, which have been carefully cultivated over years of experience with local and national consultants, brokers, and other stakeholders. For additional information, visit www.RiversideID.com.

Contacts

Media
Reputation Partners
Brendan Griffith, 414-376-3059
brendan@reputationpartners.com

The Howard Hughes Corporation
Cristina Carlson, 646-822-6910
VP, Corporate Communications and Public Relations
cristina.carlson@howardhughes.com

The Howard Hughes Corporation Investor Relations
David M. Striph, 214-741-7744
EVP, Head of Operations & Investor Relations
david.striph@howardhughes.com

Leasing Information
Riverside Investment and Development
Drew Nieman, 312-788-1804
dnieman@riversideid.com

CBRE
Kelsey Morgan, 312-935-1045
kelsey.morgan@cbre.com

 

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SOURCE The Howard Hughes Corporation

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