Board of Trade District

The Lakeside Annual Directory of the City of Chicago 1885

PREFACE.
In presenting the Lakeside Directory for 1885, the publishers take pleasure in calling attention to the very gratifying evidences of Chicago’s growth and prosperity which it contains. The increase in population, as indicated by the number of names contained in this publication, is about the same as that recorded last year—not far from 40,000. Estimating by the usual rules, the population of the city is now close on to 700,000. In 1884 the Directory had 1,432 pages, and this year it has 1,499 pages. Besides the thousands of additions to the list of names, a very noticeable feature of this year’s volume is the increased number of names in the Business part of the Directory.

In all the great activities of this giant young city, even a year given over elsewhere to complaints of hard times seems to have been powerless to stay the irresistible advance. Building has shown no appreciable diminution either in the number or the value of the structures, and some of the movements in the real estate market have been most significant. Besides putting up more than 4,000 buildings in 1884, covering more than twenty miles of street frontage, and costing in the aggregate but a little less than $20,000,000, the year has witnessed an entire change of location on the part of the grain trade. The opening of the new Board of Trade building, and the completion of the many great office buildings in its vicinity, have resulted in the transfer of the grain and provision business from the corner of Washington and LaSalle Streets, to the neighborhood of Jackson and LaSalle, four blocks south. This momentous change, involving the removal of hundreds of offices and banks, was effected without the loss of a day’s business, and so rapidly were the vacated buildings filled with other tenants, that there is now scarcely am indication that so important a movement has so recently taken place. In addition to the great palaces already constructed near the new trade center, others costing millions are already under way, and it is certain that this section of Chicago is destined to he more massive and beautiful, architecturally considered, than any similar district in the world.

Rand, McNally & Co.’s Bird’s-Eye Views of Chicago, 1893

Board of Trade District.
For nearly ten years after the (1871) fire the only buildings of prominence in that section of the city were the Grand Pacific Hotel and the Chicago, Rock Island & Pacific Depot.

The region graphically portrayed on the map below is doubtless the most striking one in the city, for the visitor can not approach it from any direction without adding to the scene many other notable buildings. The “head of La Salle Street,” as late as 1868, included no good building of any size whatever. Jackson Street, the avenue in front of the Board of Trade, and Quincy Street, the alley or narrow street one block north, were densely populated with the worst elements of the city. To the east was Pacific ave., then known as “Biler” ave., one of the most disreputable streets of the city, built up with hastily constructed tenements which were occupied by the most depraved of men and women, black, white and mixed. The name “Biler” ave., originated in the mispronunciation of “Boiler,” a nick-name given to the street, because of the number of locomotives belonging to the Rock Island and Lake Shore roads which puffed day and night along its western edge. Next, to the east, came South Clark st., a thoroughfare given over to low saloons, pawnbrokers’ shops, “fences” for thieves, concert saloons, dance houses; low groceries and bagnios.¹

The Van Buren Street Station was then the head of La Salle Street, and La Salle had not been shortened to make a place for the Board of Trade. The Grand Pacific Hotel was built and burned in 1871. It was reproduced in 1872. The grand transformation of this locality came in 1883 and 1884, when the earliest group of Chicago’s high buildings was erected. The rise in value of property on Jackson Street was sometimes from one to twenty in a year’s time. The block directly to the right of the Grand Pacific Hotel, composed of the Royal Insurance, Mallers, Gaff, and Counselman buildings, made the most rapid progress in 1884. The Rand McNally Building is seen in the foreground. In addition to the sterling character of its architecture, it has become very famous as the headquarters of the World’s Fair.

① Lakeside Building, 1872-1926
② Rookery Building, 1886-Present
③ Insurance Exchange Building, 1883-1912
④ Rand McNally Building, 1890-1911
⑤ Royal Insurance Building, 1885-1920
⑥ Mallers Building, 1883-1920
⑦ Gaff Building, 1884-1920
⑧ Counselman Building, 1884-1920
⑨ Grand Pacific Hotel, 1873-1895/1921
⑩ Hotel Grace, 1887-1989
⑪ Phenix Building, 1887-1957
⑫ Board of Trade Building, 1882-1929
⑬ Brother Jonathan Building, 1885-1911
⑭ Medinah Temple Building, 1893-1934
⑮ Michigan Southern Railroad and Rock Island & Pacific Railroad Depot II, 1873-1901
⑯ Memory Building (Exchange), 1884-1913
Not Shown Home Insurance Building, 1885-1931 (NE corner Adams and LaSalle)

Chicago Tribune, June 13, 1901

Because several business houses and a bank which propose to move into Pacific avenue did not want their stationery headed ” No. — , Pacific avenue,” the name of the street has been changed to La Salle street. The Council took the necessary action on Monday, night, and what was Pacific avenue is now part of the financial street of the city.

This change has given new illustration to the theory, “to change the character of a street, change its name.” Alderman Kenna, the most recent convert to the idea, declares that there is a time coming when Custom House place and Plymouth place will come Into the Council for a clean bill of health.

It is not claimed that the power of a changed name will accomplish everything. It even is admitted that the change may be the indication of a reform and not the cause, but the new name is given a part of the credit for the reformation. There have been a number of instances in the past. Market street, which was the home of the “Market street gang,” was changed to Orleans street. and little has been heard of the Market street gang since.

It is argued that business-men and residents will not try to live down the character of a street until the name has lost its old associations and begins to represent new ideas. It is easier to change the name. This Is recognized as being especially the case where the street Is a small jog on the map which has attained an abnormal reputation. Where a part of the street has come into bad repute and the remainder is untarnished there would be little disposition to attempt reform, by changing the name. This would be the case with Clark street.

“Changing the name of a street is the biggest kind of a reforming measure,” said Alderman Kenna. “You have to change the name of a bad street if you want to change it in other ways. I had the name of Pacific avenue changed because some business houses and a bank wanted to come in.”

Pacific avenue already has worn out two names. Before the fire it was Griswold street. When that got too bad it was changed to Pacific avenue. and now it starts again as La Salle street.

NOTES:

¹ Griswold Street ran from Jackson to Taylor prior to 1871. After the Great Fire, the name was changed to Pacific Avenue. In 1901 the name was changed again to La Salle Street. La Salle Street was named Arnold Street outside of the city limits to Englewood until the town was incorporated into the City.

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