Business Services Industry
Lighting the `cash register'; Citigroup Center wins renown for renovation done to brighten it up.(Focus: Commercial Real Estate)
Crain's Chicago Business, December, 2005 by Steshetz, D. Marie
Byline: D. MARIE STESHETZ Overlooking the south branch of the Chicago River on the corner of Madison and Canal streets, Citigroup Center at 500 W. Madison St. is one of the city's most prominent business addresses. It also features one of the nation's most unique commercial real estate designs.
With its cascading blue glass facade, the 1.4-million-square-foot building takes the shape of a waterfall, or, depending on your perspective, a cash register. But address cachet and novel architectural aesthetics didn't save the place from trouble in Chicago's lackluster commercial real estate market. The 40-story tower also offers a connection to Ogilvie Transportation Center, a Metra train station. Some 94,000 commuters pass through the property each day. That...
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