New HQ brings Chicago construction jobs
Posted on April 9, 2016
The building of a new headquarters is creating more Chicago construction jobs.
In addition to the 2,700 construction jobs, the 810,000-square-foot new building will accommodate 3,000 tenant employees and employ 45 individuals to manage, secure and operate it. CNA will be leasing 275,000 square feet, and law firm Hinshaw & Culbertson LLP has committed to leasing 100,000 square feet.
The Class A building, under development by The John Buck Company (JBC), will be completed in summer 2018.
“JBC has had a tremendous relationship with Alderman Reilly and the city of Chicago over many years, and we are honored to have CNA and Hinshaw & Culbertson as our anchor tenants at 151 North Franklin,” John A. Buck, Chairman, The John Buck Company said. “We’d like to thank Mayor Emanuel for his continued support of this project, and of all businesses throughout our great city. As we move forward with construction, we are committed to hiring a diverse workforce of contractors that represent this great city.”
“CNA is entering our 120th year of business and 116th year in Chicago – it’s our home and we thank Mayor Emanuel for his continued vision and leadership,” Tom Motamed, Chairman and Chief Executive Officer, CNA said. “CNA’s new global headquarters recommits us to this world-class city and will better serve the needs of both our employees and customers.”
“CNA is an iconic Chicago company with a history that spans more than a century,” Mayor Emanuel said. “But today is about more than this new building. It is about building a new future where Chicago will remain a city on the move for every resident in every neighborhood.”
Soon 151 North Franklin will join the increasing number of tower cranes that are dotting Chicago’s skyline – already numbering more than any other time in the last five years. There are currently 23 tower cranes operating on construction sites in the city. That’s 13 more tower cranes compared to 2011 and four more cranes compared to last year. Additionally, four tower cranes are pending installation. The cranes translate to nearly $2 billion dollars in construction investments and thousands of jobs.