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Water Tower Place may be a giant urban, mixed-use development comprising a 758,000 area unit (70,400 m2) shopping precinct and seventy four story building in Chicago, Illinois, u. S.. The complicated is found at 835 North Michigan Avenue, on the splendid Mile. It’s named once the close Chicago reservoir. It’s owned by General Growth Properties.
Originally formed within the late Sixties by the Mafco Company (the former shopping mall development division of Marshall Field & Co.), the building was eventually inbuilt 1975 by Urban Retail Properties, an organization light-emitting diode by Prince Philip Morris Klutznick and his son Thomas J. Klutznick. The project received a J.C. Nichols Prize from the Urban Land Institute in 1986.
The tower section may be a 74-story 859-foot (262 m) concrete block, visaged with grey marble, and is that the eighth tallest building in Chicago and also the ordinal tallest within the u. S.. When built, it had been the tallest concrete building within the World. It contains associate victory Ritz-Carlton building, luxury condominiums, associated workplace house and sits atop a block-long base containing an atrium-style retail mall that fronts on the splendid Mile.
Water Tower Place’s gap modified the economic dynamics of the splendid Mile by conveyance conservative retailers to what had been a street dominated by luxury retailers, tony hotels, and costly residences. It shifted downtown Chicago’s retail center of gravity north from State Street to North Michigan Avenue. Decades once its construction, its residences and building stay asked for addresses, and also the mall is usually totally hired, drawing giant enough crowds that some retailers operate shops each within the mall and out of doors it on Michigan Avenue.
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