Located in the heart of the bustling Chicago Loop, the Chicago Board of Trade Building stands as a monumental testament to the city's rich history and architectural prowess. This iconic 44-story skyscraper, with its striking Art Deco design, has been a central hub for trading and finance since its completion in 1930. Rising to a height of 604 feet, it once held the title of Chicago's tallest building until 1965, and continues to be an architectural marvel and a significant part of the city's skyline.
The Chicago Board of Trade (CBOT) has a storied history that dates back to its founding in 1848. Initially located at 101 South Water Street, the Board of Trade moved several times before settling at its permanent home at the corner of LaSalle and Jackson in 1885. The original building, designed by William W. Boyington, was a grand structure that stood as the tallest building in Chicago at the time. However, as the city grew and evolved, so did the needs of the Board of Trade, leading to the construction of the current building in 1930.
The current Chicago Board of Trade Building was designed by the renowned architectural firm Holabird & Root. Its Art Deco style is characterized by clean lines, geometric shapes, and lavish ornamentation, making it a standout example of this architectural movement. The building's façade is clad in gray Indiana limestone, and it is topped with a distinctive copper pyramid roof, giving it a regal and timeless appearance.
One of the most striking features of the building is the three-story statue of Ceres, the Roman goddess of agriculture, which crowns the structure. Sculpted by John H. Storrs, the statue is a nod to the building's heritage as a commodities market, where grains and other agricultural products were traded. The statue, along with other intricate sculptures and carvings on the building's exterior, adds to its grandeur and historical significance.
Stepping inside the Chicago Board of Trade Building is like taking a step back in time. The interior is adorned with polished surfaces, black and white marble, and prominent vertical trim that exudes elegance and sophistication. The open three-story lobby, once home to the world's largest light fixture, welcomes visitors with its impressive scale and grandeur.
The building's fourth floor houses the trading floor, which has been in continuous operation since the building's opening in 1930. Spanning 19,000 square feet, it was once the world's largest trading floor and remains a bustling center of activity. The trading pits, where brokers shout and gesture to buy and sell commodities, are a sight to behold and offer a glimpse into the fast-paced world of trading.
The Chicago Board of Trade Building is not just an architectural gem; it is also a showcase of artistic talent. Alvin Meyer, the head of Holabird & Root's sculpture department, created several sculptures that adorn the building's façade. These sculptures represent the trading activities within and add a layer of meaning and symbolism to the building's design.
On either side of the 13-foot diameter clock facing LaSalle Street, hooded figures can be seen holding grain and corn, symbolizing the commodities traded at the exchange. Similar figures are repeated at the uppermost corners of the central tower, just below the sloping roof. Additionally, representations of bulls protrude from the limestone cladding on the building's north and east sides, referencing a bull market.
The Chicago Board of Trade Building has been recognized for its historical and architectural significance with several designations. It was named a Chicago Landmark in 1977, and in 1978, it was listed as a National Historic Landmark and added to the National Register of Historic Places. These honors reflect the building's importance to the city's heritage and its enduring legacy as a symbol of Chicago's financial and architectural prowess.
While the Chicago Board of Trade Building is steeped in history, it remains a modern and vibrant center of commerce. In 2007, the CBOT merged with the Chicago Mercantile Exchange to form the CME Group, one of the world's largest and most diverse derivatives marketplaces. The building continues to serve as a primary trading venue, and its owners and management have been recognized for their efforts to preserve the building and maintain its status as a premier office space.
In conclusion, the Chicago Board of Trade Building is more than just a skyscraper; it is a living piece of Chicago's history. Its Art Deco design, rich history, and central role in the city's financial district make it a must-visit destination for anyone interested in architecture, history, or finance. As you stand at the foot of this magnificent building and gaze up at the statue of Ceres, you can't help but feel a sense of awe and appreciation for the enduring legacy of the Chicago Board of Trade Building.
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