NAR plans renovation at Michigan Avenue national headquarters

The National Association of Realtors has already committed $45M to expansion of Realtor Building

Chicago /
Jan.January 02, 2019 01:00 PM

NAR CEO Bob Goldberg and the Realtor Building at 430 North Michigan Avenue (Credit: NAR)

The National Association of Realtors is building out the lower level of its Michigan Avenue headquarters, with plans to improve its fitness center and office space.

The NAR-owned building at 430 North Michigan Avenue has been granted a permit to renovate nearly 14,000 square feet of the the facility’s existing fitness center and office space, according to city records.

In November, NAR received a city permit to begin work on a $45 million expansion of its national headquarters building, known as the Realtor Building. Plans for that project include the addition of 13th and 14th floors to the existing 12-story building overlooking the Magnificent Mile. Renovations were also planned as part of the project, including new elevators and a new lobby.

It is unclear if the lower-level work is part of that larger effort.

NAR’s headquarters sits on a stretch of Michigan Avenue that is seeing a flurry of development activity.

Across the street, Golub & Company and CIM Group are working on a massive redevelopment of the Tribune Tower, including the construction of what could be Chicago’s second-tallest building. Next door to NAR’s headquarters is the iconic Wrigley Building, an office tower that was bought by billionaire Joe Mansueto for $255 million earlier this year.

In May, NAR raised its annual dues 25 percent, from $120 to $150, as well as added an extra annual fee of $35 for the association’s advertising efforts.


Related Articles

arrow_forward_ios
Amazon founder Jeff Bezos with the Waukegan warehouse (Getty, CBRE)
Amazon inks lease for another suburban warehouse
Amazon inks lease for another suburban warehouse
Aon Center at 200 East Randolph
Kraft Heinz renews big lease at 601W’s Aon Center
Kraft Heinz renews big lease at 601W’s Aon Center
EMA Hotels founder Jigar Patel and 3003 Corporate West Drive (LinkedIn, Hilton)
Cut rate: Suburban DoubleTree sells for a song
Cut rate: Suburban DoubleTree sells for a song
Fred Eychaner sought to overturn ruling that let governments seize property in push to revitalize area. (Google Maps)
Supreme Court ends businessman’s quest to curb eminent domain laws
Supreme Court ends businessman’s quest to curb eminent domain laws
Alderman Carrie Austin (Getty, 34th Ward)
Feds charge alderman with bribery relating to home improvement work
Feds charge alderman with bribery relating to home improvement work
600 West Chicago Avenue (Sterling Bay)
Latest office amenity is a doctor’s office downstairs
Latest office amenity is a doctor’s office downstairs
(Getty)
Amazon to add last-mile distribution facility in Chicago
Amazon to add last-mile distribution facility in Chicago
Chicago Bears president and CEO Ted Phillips and Arlington Park (Getty)
Soldiering off? Bears bid to buy Arlington Park track
Soldiering off? Bears bid to buy Arlington Park track
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...