A renovation has been announced for the Prudential Plaza complex at 130 E Randolph Street in New East Side. Located on the corner with N Stetson Avenue and across the street from Millenium Park, the complex is currently owned by Wanxiang America Real Estate Group. The US-based real-estate developer is part of Wanxiang Group, a Chinese automotive manufacturer.
View of current rooftop space via SCB
The original 41-story Prudential Plaza was the first skyscraper built in Chicago after the Great Depression, as well as one of the first to utilize air rights to build over the rail lines below it. In 1990 the complex welcomed the second 64-story tower before Prudential sold it in 2000 for $380 million. Wanxiang then purchased it for $680 million in 2018, recently renegotiating an extension on its loan.
Rendering of renovated rooftop by Wright Heerema Architects
Now its namesake company has announced its departure from the tower, trading their current 50,000-square-foot lease for a 28,000-square-foot space at 150 N Riverside and taking their naming rights as well. Due to all of this Wanxiang is embarking on a $50 million renovation to the building and its amenities designed by Wright Heerema Architects.
Rendering of new amenity space by Wright Heerema Architects
The work will include a major overhaul and expansion of the rooftop deck on One Prudential’s setback, this will include direct access from Two Prudential, new seating, bar, pickleball court, and putting green. The existing tenant lounge will be redesigned with more seating, golf simulators and remodeled gym. A new 20,000-square-foot amenity space will be created within Two Prudential’s 11th floor with a conference center, lounge, and entertainment space.
View of current lobby space via SCB
The work will also update the furniture in the lobbies of both buildings, adding a coffee shop as well. Wanxiang reports the complex is 78 percent leased and is looking to secure a new anchor tenant looking for naming rights as well, however the iconic rock sculpture on the facade will stay. The work is expected to be spread across four years along with other updates.
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