The new CME entrance will incorporate the latest developments in access technology and will open to a new escalator for the exchange's members, staff and guests. The renovation is expected to significantly improve pedestrian traffic flow for all tenants throughout the complex's vast lobbies. Equity Office is also executing an extensive renovation to the lobbies of 10&30 South Wacker to enhance the property's aesthetics.
The project is targeted for completion by year-end.
 |
20 South Wacker Drive
"Following a year of record growth and a successful public offering that has drawn additional attention to CME's importance in the world marketplace, we are delighted to work with Equity Office on giving CME the prominence that reflects its contributions to Chicago as a world-class financial center," said CME Chairman Terry Duffy. "Our new Visitors' Center will tell the CME story and allow the public to better understand the relevance of our markets to their everyday lives."
The project will include an internal, glass-enclosed 40' x 5' lighted display branding CME's new entrance. The state-of-the-art display, which will be visible to Wacker Drive passersby, will feature interchangeable images and messages, such as news broadcasts, video capability, displays of CME's GLOBEX® electronic trading activity, time and temperature, and the first ticker listing prices and products traded on CME.
The new, interactive Visitors' Center will detail the exchange's history of innovation - including creation of the world's first financial futures - and will feature technology that has driven recent trading volume growth, as well as illustrate the importance of CME markets to the world economy. Accessible via a courtyard entrance at 20 South Wacker Drive, the Visitors' Center will change the face of the building and the block, as well as provide higher visibility to CME and its markets. CME's fourth floor Visitors' Gallery, overlooking one of the Exchange's two trading floors, has attracted as many as 100,000 visitors each year. Following completion of construction, those visiting the Gallery will be routed through the new Visitors' Center.
To accommodate the project and enhance the aesthetics, the exit ramp of the parking garage will be relocated to Lower Wacker Drive.
The new 20 South Wacker Drive lobby will also showcase an exhibit of artifacts CME has secured from the original Chicago Mercantile Exchange building at 110 N. Franklin Street, which was home to the exchange from 1927 to 1972. Such artifacts include the inscribed pediments over the entrances to CME's former trading floor and cast bronze elevator doors with various scenes of agricultural America.The new CME lobby will have granite floors and coffered ceilings with new illumination.
Fujikawa Johnson and Associates, the original architect of the Chicago Mercantile Exchange Center in the early 1980s, is the architect for this project. The general contractor is Turner Construction, and Holly Duran of The Levy Organization Real Estates Services is assisting in coordinating the project.
In December 2002, CME renewed its lease and expanded into 445,000 square feet of office space in the complex. The renovation underway is a product of the negotiations associated with the renewal. The transaction provided CME with lease-term flexibility as well as the opportunity to enhance its identity. CME has been headquartered in the two-building complex since 1983.
General Building Enhancements
Equity Office is planning an extensive renovation that will enhance the aesthetics of the property's office lobbies.
Interior Architects is the architect for Equity Office's renovations. Alps Construction, Inc. is the general contractor.
The company will combine the present classic contemporary design of the 10&30 lobbies with an overlay of newer fixtures and textures. Stainless steel, wood, leather and frosted glass will complement the existing granite finishes.
Plans also call for a new messenger center. And, the elevator cabs will be refurbished to reflect the lobbies' newer, lighter setting.
The retail corridor plays a big part in linking the two lobbies while providing access to dining, banking, newsstand and sundry facilities. In keeping with the renovation of the lobbies, the retail corridor will undergo a facelift, which will incorporate some of the same materials used in the lobby renovation, such as wood, frosted glass and stainless steel.
In addition, new lighting in contrasting levels of intensity, coupled with a new ceiling, will add to the interest of the approximately 180-foot-long corridor. Each storefront will be completely replaced with a new sliding-door system that will enhance the overall look and appeal of the retail corridor.
"This renovation focuses only on cosmetic enhancements because 10&30 South Wacker is one of the most technologically advanced office complexes in Chicago, largely because of electrical feeds and other high-tech wiring installed to meet the advanced needs of CME," said C.J. Dempsey, managing director of leasing for the property. "We believe that by separating CME's foot traffic, we will significantly improve the lobby's pedestrian flow."
The 10&30 South Wacker Drive buildings are conveniently located on the block between Madison and Monroe streets, one of Chicago's most coveted locations. The 2 million-square-foot complex offers convenient access to major public transportation and a wide range of amenities. The complex is equipped with 550 parking spaces, a white tablecloth restaurant, two carry-out restaurants, a full-service bank, a leather care specialist, and a newsstand/sundry shop. The property is a joint venture of Equity Office and Lend Lease Real Estate Investments.
