Construction Begins on 50-Story BMO Office Tower in Chicago
The future tower, which will open in 2022, will feature more than 1.4 million square feet of office space and will serve as BMO Financials’ corporate headquarters.
CHICAGO—BMO Financial Group and Riverside Investment & Development were joined by city officials on Friday to break ground on the 50-story BMO Tower building at 320 S. Canal St. in the West Loop here.
The future tower, which will open in 2022, will feature more than 1.4 million square feet of office space and will serve as BMO Financials’ corporate headquarters.
The new building, located across the street from Union Station, will be home to approximately 3,600 employees who will ultimately be located across 14 floors of the 50-story building.
“BMO Tower will be another architectural marvel, gracing our city’s skyline while serving as a vital link to economic, cultural and recreational investments for residents and visitors,” said Chicago Mayor Lori E. Lightfoot. “While we are breaking ground today on a 50-story tower downtown, BMO Harris Bank’s $10-million pledge to the city’s INVEST South/West initiative through the United Way of Metro Chicago means we are also investing in our communities.”
Riverside Investment & Development and Convexity Properties are developing the property that will include a 400-stall parking lot, a BMO branch bank on the ground floor and 1.5-acre park adjacent to the tower. Law firm Chapman and Cutler LLP has signed a lease deal to relocate its corporate headquarters to the BMO Tower.
In November, BMO Financial Group pledged $10 million as part of the city’s INVEST South/West initiative. INVEST South/West is a three-year initiative to align private investment alongside more than $750 million in public funding to re-activate neighborhood cores on the South and West sides.