Studebaker Building II, Brunswick Building (1914), Columbia College (1983)
Life Span: 1896-Present
Location: 378 to 388 Wabash Avenue (old), 623-633 S Wabash Ave.
Architect:: S. S.Beman
- Lakeside Business Directory of the City of Chicago, 1899
Studebaker Building., 378 to 388 Wabash
Lakeside Annual Directory of the City of Chicago, 1904
Studebaker Bldg.,—378 to 388 Wabash
Chicago Tribune, December 29, 1895
Studebaker moved to a new facility, described below:
The Studebaker Building (remodeling), at Nos. 378 to 388 Wabash avenue, is nearly completed. Its cost is $250,O00. In size it is 120×150 feet. The Studebaker Bros. Manufacturing company, for whom the building is built, will occupy the main floor, basement, and second floor, and the balance of the ten stories will be divided to suit tenants. The building contains some novel features in the way of plate glass fronts, making it one of the lightest buildings for salesrooms in Chicago. The front and rear of the building contain 95 per cent, making it the lightest building in the city. In addition to this feature there is a light court in the center of the building. The front, except for the glass, is constructed of pure white terra cotta and the entrance is in marble and mosaic. The structure will be of the Gothic style of architecture. Freight and passenger elevators will be in the building and each floor will have toilet-rooms. S. S.Beman is the architect.
Chicago Tribune, January 3, 1912
The new year opened actively in a real estate way, with two deals of unusual interest-one a 198 year lease of the ground under 6308-6314 South Halsted street, negotiated in a day’s time; the other the conveyance by the Studebaker corporation of the Studebaker building and leasehold interest at 623-633 South Wabash avenue.
In the first transaction $1,273,000 is represented in the aggregate rent and purchase of the buildings, while in the second the purchase of the building is said to have been a basis of approximately $600,000, with the new basis of rent withheld.
Richard C. Lake, a retired capitalist, was the purchaser of the Studebaker building and leasehold, his object, it is said, being purely for investment. The Studebaker company will continue to occupy the building with its carriage repository, and different schoolbook publications will retain their western headquarters there.
Acquires Several Buildings.
Recently the Studebaker company acquired a number of holdings in the vicinity of Wabash avenue and Twenty-first street, which gave rise to the rumor that the company intended putting its ten story building at 623-633 South Wabash avenue on the market with a view to moving its head-quarters further south.
According, to disclosures made since yesterday’s transaction, however, it was not the intention of the Studebaker corporation to move its carriage business, but to erect a blacksmith shop at Twenty-first street and Wabash averue, to be used in conjunction with its automobile establishment at Michigan avenue and Twenty-first street. These plans are now said to have been changed.
The Studebaker property has a frontage of 120 feet, with a depth of 172 feet to an eighteen foot alley, and is located midway between Harrison street and Hubbard court. The land is owned by Martin A. Ryerson and Henry H. Getty. Several years ago it was placed under lease to the Studebaker company for a term expiring Oct. 31, 1980, at an annual rent of $14,400.
Price Put at $600,0OO.
Yesterdays transaction involves the transfer of the leasehold interest, together with the ten-story fireproof structure, but the Studebakers take back a five-year lease of the property. The sale was negotiated by Rounds & Wetten.
The consideration is withheld, but it is said the purchase was made for a sum approximating $600,000 and that the leasehold interest was calculated on a valuation of $4,000 per front foot. As a part of the consideration Mr. Lake conveyed to Clement Studebaker, Jr., the property at No. 223 South Wabash avenue, between Adams street and Jackson boulevard, having a frontage of twenty-six feet, with a depth of 172 feet The ground is improved with a four-story building. The rest of the considerationwas cash.
Chicago Examiner, April 23, 1911
Chicago Tribune, March 8, 1914
The Brunswick-Balke-Collender-Company has leased from Richard C. Lake the entire store floor, basement and second floor of the former Studebaker building at 623 to 633 South Wabash avenue, for a long term of twenty years from May 1, 1917, at an aggregate rental of $565,000, which is at the rate of $28,200 a year. The making of this lease indicates that the company has permanently abandoned the erection of a building at the southeast corner of East Harrison street and Wabash avenue, the site for which was purchased a few year ago.
The building just leased has a frontage of 120 feet with a depth of 170 feet, the two floors containing an area of more than 40,000 square feet. This space, with the basement, will afford room sufficient for business requirements for some time to come and future needs can always be provided for in the upper floor of the building. The lease was negotiated by Albert H. Wetten & Co.
About two years ago, following the fire which destroyed the building occupied by the company on Wabash avenue, between Jackson boulevard and Van Buren street, the company purchased the corner of Wabash avenue and Harrison Street with the purpose of improving it.
Chicago Tribune, March 8, 1914
- Studebaker Building
Nos. 378-388 Wabash
Sanborn Fire Insurance Map
1906
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