CME Group, the world’s largest and most diverse derivatives exchange, announced today that the Chicago Board of Trade (CBOT) Building was chosen as recipient of the 2008 Office Building of the Year (TOBY) Award. The CBOT building received the award for the Historical Building category. The Building Owners and Managers Association (BOMA) sponsors the TOBY Awards program, which recognizes excellence in office building management.
“It is a great honor to be recognized for the successful management of one of the world’s most well-recognized historic buildings by the commercial real estate industry’s premier organization,” says Kevin Lennon, CME Group Director of Real Estate. “This award recognizes our successful efforts to balance the responsibilities of preserving a national landmark, toured by thousands of visitors a year, with meeting the needs of 180 tenants, many of which are trading firms with complex and sophisticated technology needs.”
“We offer our congratulations to the Chicago Board of Trade Building, along with its management and building staff for this profound achievement,” said Michael Cornicelli, Executive Vice President, BOMA/Chicago. “This honor recognizes extraordinary dedication to historic preservation and excellence in property management operations, and we are honored to have the Chicago Board of Trade Building as a BOMA/Chicago member. We congratulate all of the BOMA/Chicago member buildings that competed in this year’s International TOBY Awards and thank all of our member buildings for their continued role in making downtown Chicago a thriving business community.”
The Chicago Board of Trade Building is one of the United States’ most significant art deco office buildings and is often considered to be one of architecture firm Holabird and Root’s most distinguished designs. Built in 1930, the 45-story building was Chicago’s tallest building for 35 years. Additions to the original structure were made in 1982 and 1997. In 2005, an extensive two-year restoration of the building commenced. The restoration involved façade repair and cleaning, renovation and restoration of 23 elevators, and the upgrading of fire safety, mechanical and electrical systems. The project’s centerpiece was the meticulous restoration of the building’s three-story marble and nickel-silver trimmed lobby and mezzanines.
The building’s preservation efforts have been widely recognized. The Chicago Board of Trade Bulilding received the 2006 Real Estate & Building Industries Council Award presented by the Landmarks Preservation Council of Illinois. In 2007, the City of Chicago recognized the Chicago Board of Trade Building at its annual Preservation Excellence Awards and cited the restoration of the Art Deco lobby. Earlier this year, the building had received BOMA’s North Central Region TOBY Award, also in the Historical Building category. The Chicago Board of Trade Building at 141 West Jackson Blvd. is managed by C-B-T Corporation and currently owned by CME Group.
.jpg)
