Presidential Towers, Residential skyscraper complex in Near West Side, Chicago, United States.
Presidential Towers consists of four 49-story skyscrapers connected by a shared base containing retail spaces and parking facilities. The complex houses approximately 2,346 apartments with views of Chicago and amenities including fitness centers and swimming pools.
Presidential Towers was built in 1986 on two blocks of Chicago's former skid row, supported by over $100 million in direct investment, waived federal, state and city revenues, and what was then the largest guarantee from the Federal Housing Administration. Occupancy struggles in the late 1980s led the complex into default in the early 1990s. Waterton Associates bought it from Pritzker Realty Group in 2007 and began a renovation that updated units and common areas and opened street-front access to the ground-floor retail.
The complex hosts the annual Fight for Air Climb event, where participants climb the stairs to support respiratory health research. This event has grown into a recognizable charity race that brings the community together.
The complex occupies two full blocks bounded by Madison, Monroe, Clinton and Desplaines streets, with the residential towers set atop a four-story parking garage and retail base. The towers are staggered across the site so that each of the 2,346 apartments keeps views toward the Chicago Loop. The inward-facing mall sits within the base, and street-front access to the ground-floor retail was added during the renovation begun after 2007.
The complex became the largest residential property in Chicago to implement a complete smoke-free policy throughout in 2015. This smoke-free policy was a pioneer move in the city and set a new standard for other residential complexes.
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