NAR looks to turn Chicago HQ into “world-class property”

The current NAR headquarters building in Chicago, which would be demolished to build a more modern “Class A” structure.

The NAR Board of Directors has voted unanimously to “turn the association’s headquarters into a world-class property that is intended to become the next destination building in the iconic Chicago skyline.” The vote allows “exploration” of the project, meaning the association can begin more detailed talks with its unnamed developer partner.

According to the association:

The property would replace NAR’s 50-year-old, class B+ property with a significant REALTOR®-branded, 1-2-million-square-foot Class A+ building and plaza that would include a 5-star hotel, condominiums, office space, and ground-level retail. Under preliminary plans subject to final agreement with the partner, REALTORS® would own a planned 180,000 square feet of the building plus a percentage of the overall project.

Click here to read more from NAR.

Click here to read more from Inman News.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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One Response to NAR looks to turn Chicago HQ into “world-class property”

  1. Dawn M. West says:

    Wondering who this unknown AKA, “Secret” investor is. I am going to take a wild guess….. Valerie Jarrett. AN EDUCATED GUESS; Look at her families history w/the housing industry in Chicago, the power she has & with all this fundamental changing going on in our Country.

    MEANWHILE, we pay out the waazooo for our dues AND we, we being us Realtors, buyers, sellers, appraisers, banks, etc., etc. are seeing the rules & regulations get deeper & deeper with EVERY aspects of the American Dream of being a homeowner, not too mention higher & higher taxes with all of us.

    So, this article states this building will cost up to 1 Billion….dollars. How many houses would that be? I mean if we are going to spend this kind of money, I would much rather see it go to PEOPLE the Philippines; just think of how many homes that would be for the hurricane ravaged country. AND what a statement it would share with the world, including the citizens of this Country. What? Just sayin, seeing that our Association went all global a few years back & if They like to spend our money on something that has no REALITY to us little people, can’t I at least dream? Man, I am burned about this right now…

    NEXT, we will be told we can no longer advertise, “Live the American Dream, buy a house…” Oh, wait, that’s right, we can not market that word, “American” anymore because someone might get offended. I reckin we could create a nick name for the building, how about, Emerald City Plaza….?

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