In the early weeks of the pandemic, developer Hines and longtime Wolf Point site owner Joseph P. Kennedy Enterprises made the difficult decision to begin construction of the 60-story Salesforce Tower.
The project, the third and final tower on the prominent riverfront site, began in April 2020. The development team faced COVID-19 lockdowns, supply-chain disruptions and other obstacles.
Emerging from those uncertain times is what Hines describes as the most advanced, environmentally neutral and amenity-filled office building in Chicago. Salesforce Tower has been selected by a panel of local industry professionals as the 2024 CoStar Impact Awards Commercial Development of the Year in Chicago.
Construction was able to begin because of a lease commitment from business software giant Salesforce. More than a year into construction, law firm Kirkland & Ellis signed a massive lease to fill most of the remaining space in the tower.
The skyscraper, which opened last May, is 95% leased.
About the Project: Other investors included the AFL-CIO Building Investment Trust and Diversified Real Estate. The project created a 1,000-foot-long extension of Chicago’s Riverwalk and other green space.
What the Judges Said: "The creation of Salesforce Tower symbolizes the culmination of dedicated perseverance amidst the adversities faced during challenging times,” said Eric Turrin of North Park Ventures. “Moreover, its proactive initiatives to decrease carbon emissions are praiseworthy and set a pioneering standard for future ventures in commercial development."
They Made It Happen: Leaders of the project included John Tomlinson, Brian Atkinson, Jeannie Torres and Jim Walsh of Hines, Fred Clarke of Pelli Clarke & Partners, John Hessler of HKS and Eric Larsen of the Walsh Group.
CoStar Market Manager Kristen Davis contributed.