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User:Flopez4/Chicago Board of Trade Building

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Article Draft

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Architecture

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In 1925, the Chicago Board of Trade commissioned Holabird & Root to design the current building. The general contractors Hegeman & Harris built it for $11.3 million, although the reported twenty-year mortgage value was $12 million[1][2] ($12 million in 1925 equates to about 210 million in 2023 dollars). Clad in gray Indiana limestone, topped with a copper pyramid roof, and standing on a site running 174 ft (53 m) east–west on Jackson Boulevard and 240 ft (73 m) north–south on LaSalle Street, the 605 ft (184 m) tall art deco-styled building opened on June 9, 1930. It serves as the southern border for the skyscrapers hugging LaSalle Street and is taller than surrounding structures for several blocks. The Chicago Board of Trade has operated continuously on its fourth floor since the 1930 opening, dedicating 19,000 square feet (1,800 m2) to what was then the world's largest trading floor.[3] Built in 1930 and first designated a Chicago Landmark on May 4, 1977,[4] the building was listed as a National Historic Landmark on June 2, 1978.[5][6] It was added to the National Register of Historic Places on June 16, 1978.

The advent of steel frame structural systems allowed completely vertical construction; but as with many skyscrapers of the era, the exterior was designed with multiple setbacks at increasing heights, which served to allow additional light into the ever-deepening concrete valleys in urban cores. At night, the setbacks are upwardly lit by floodlights, further emphasizing the structure's vertical elements. The night illumination design was a common contemporary Chicago architectural theme, seen also in the Wrigley Building, the Jewelers Building, the Palmolive Building, the LaSalle-Wacker Building, and the Tribune Tower.[7]

Ceres, at the top of the building

Interior decoration includes polished surfaces throughout, the use of black and white marble, prominent vertical hallway trim, and an open three-story lobby which at the time of opening housed the world's largest light fixture.

Though One LaSalle Street had five more floors, the CBOT building was the first in Chicago to exceed a height of 600 ft (180 m). After surpassing the Chicago Temple Building, it was the tallest in Chicago until the Daley Center was completed in 1965. Known for its work on the Brooklyn Bridge, the family-operated factory of John A. Roebling supplied all of the cables used in the building's 23 Otis elevators.[8][9] Beneath the main trading floor over 2,700 miles (4,300 km) of telephone and telegraph wires were once hidden. No less than 150,000 miles (240,000 km) of wires (considered possibly the most direct long-distance wire from any building) once ran from the room.[10] Although the building was commissioned for the Chicago Board of Trade, its first tenant was the Quaker Oats Company, which moved in on May 1, 1930.[11]

Additional changes to the building

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In turn of 21st century, Chicago Board of Trade introduced a new form of exchange by going digital. After a foreign competitor company overtook CBOT as the "world's highest volume futures exchange", CBOT needed an update in order to compete. [12] CBOT's update brought in a state-of-the-art $182 million trading floor. The focus was no longer on the highest volume but rather "doing the best job on annual report experience". [13]


Adding to architectural design

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Art deco was a form of design for buildings in Chicago during the early 1900s that addressed advancement in science and technology to draw the consumer and city away from The Great Depression. The Chicago Board of Trade, along, along with other art deco buildings, reflected a less colorful look to a more austere exterior that compliments older neighboring buildings. Which is why the architect chose to design the Chicago Board of Trade with limestone material. [14]

Adding images

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Photos of the faceless statue (Ceres) and the interior of the buildings to show more Art Deco features.

Lead

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Article body

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References

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  1. ^ Bruegmann, p. 23
  2. ^ Bruegmann, p. 34
  3. ^ Joyce Selander (August 26, 2011). Joyce, Queen of the Mountain: Female Courage and Hand-to-Hand Combat in the World's Largest Money Pit. iUniverse. pp. 16–. ISBN 978-1-4620-4206-7.
  4. ^ "Chicago Board of Trade Building". Commission on Chicago Landmarks, Historic Preservation Division of Chicago Department of Housing and Economic Development. Retrieved February 11, 2012.
  5. ^ "National Historic Landmarks Survey: Listing of National Historic Landmarks by State: Illinois" (PDF). National Park Service. Archived from the original (PDF) on February 28, 2011. Retrieved July 14, 2007.
  6. ^ "Chicago Board of Trade Building". National Park Service. Archived from the original on December 7, 2007. Retrieved March 30, 2007.
  7. ^ Saliga, Pauline A. (ed.), p. 113.
  8. ^ Lane, Sally. "A Brief History of Trenton" (PDF). New Jersey Institute of Technology. Archived from the original (PDF) on December 3, 2007. Retrieved August 4, 2007.
  9. ^ "Social Science Docket" (PDF). New York and New Jersey State Councils for Social Studies. Archived from the original (PDF) on September 28, 2007. Retrieved August 4, 2007.
  10. ^ Bruegmann, p. 39
  11. ^ Bruegmann, p. 35
  12. ^ Holder, Mark E.; Langrehr, Frederick W. (2001). "A Case Study: The Chicago Board Of Trade And Electronic Trading: A Case On Responding To Technological Change". Journal of Financial Education. 27: 88–98. ISSN 0093-3961.
  13. ^ "Get out of the way - ProQuest". www.proquest.com. Retrieved 2023-03-23.
  14. ^ Schrenk, Lisa D., "Art Deco at Chicago's 1933–1934 Century of Progress International Exposition", The Routledge Companion to Art Deco, doi:10.4324/9780429032165-5/art-deco-chicago-1933–1934-century-progress-international-exposition-lisa-schrenk, retrieved 2023-03-21 {{citation}}: Check |doi= value (help)
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