40 N Wells St, Chicago, IL 60606 For Lease

The Washington Block sits quietly and modestly on the corner of Washington and Wells (formerly 5th Avenue). Oft-overlooked in favor of more visually striking skyscrapers, 40 N Wells is rich with history. Its walls have seen a wealth of tragedy and triumph since its construction in 1873. The reconstruction boom sought to begin healing the wounds left by the Great Chicago Fire in 1871. It was commissioned by Barbara Cure and John P Olinger of Olinger & Ballard, who hoped that The Washington Block would help to extend the Loop’s business district further west.

Designed by the Baumann cousins, the building became the first signifacnt example of an isolated pier foundation, which was a major advance in developing adequate stable foundations for the city’s infamously compressible soil. Multiple ornate textured surfaces, punch-open windows, carved hoods, and a timely Victorian influence characterized the internal and external aesthetic of the building. An optimistic report shortly following the building’s construction stated that “this building, with those occupying the other three corners, (all of which are very beautiful,) combines to form a series of the most attractive business corners on the South Side of the Chicago River, and virtually does away with all rumors regarding the low value of business property in the location named. It probably has enhanced the price of real estate at least 25 percent within the past six months, and no doubt this figure will be doubled within the next twelve months.”

Unfortunately, such optimism was misplaced. In the late 1800s, 4-5 story skyscrapers fell out of favor, and the construction of the El line further detracted from interest. Nearly all buildings with similar construction were demolished by the early 1900s for later replacement by 10+ story buildings, including all of the Baumanns’ buildings… except one.

The Washington Block survived by sheer luck due to its isolated location at the time. It flew under the radar for decades, which made it a highly desirable location for speakeasies and surreptitious gambling sites. In the 1920s and 30s, The Washington Block saw multiple police raids and dozens of arrests, particularly in t he wake of the 1919 Black Sox scandal which uncovered a massive gambling scheme that slithered through Chicago’s dark underbelly. Gambling and prohibition raids plagued the Central Loop, with business-owners and agents facing arrest nearly every day at 40 North Wells. Were that not enough, a 1926 investigation revealed a massive health scam on the part of a medical tenant who prescribed unnecessary procedures and expensive snake oil drugs to unsuspecting patients seeking help for, well, “lost manhood” issues. The quack doctor lost his license, but not before draining many innocent patients of their time, money, and self-esteem.In the 1950s, the building faced yet another scandal: its contemporary remodeling removed many of the historically significant finishes, shearing off the original metal facings, stonework, and cresting, replacing nearly all of the interior features on the ground floor except for the original spiral staircase which can be admired even today. It wasn’t until the early 2000s that developers began reforming the original tooling and keystones that made The Washington Block so attractive.

In 1997, the building was designated a Chicago landmark, and signified as “Red” by the Chicago Historic Resources Survey. A red designation is only awarded to structures that are architecturally or historically significant in the context of the City, the State of Illinois, or the country. A red designation is a major honor, and signifies long-awaited recognition for a building that had been overlooked and under-appreciated, abused and ignored, for over a century.

Today, The Washington Block is a distinguished and distinctive home for small-to-midsized tenants, boasting stunning hardwood floors, 12-foot ceilings, and enormous floor-to-ceiling windows that overlook the hustle and bustle of the city.