The owners of the building housing one of Louis Sullivan’s most magnificent halls are increasingly vocal about their plans to expand at the expense of this miraculously saved historic building. In 1972, the Chicago authorities authorised the demolition of one of the city’s first and most beautiful skyscrapers – the former Chicago Stock Exchange. Protests and campaigns by architecture enthusiasts achieved little, and a mediocre skyscraper in the International Style was erected on the site of the original building. However, architecture enthusiasts managed to save the original trading floor and the ornate entrance arch. The problem is that in 2026, the hall faces the threat of demolition once again.
The father of skyscrapers
Built in 1893, the Chicago Stock Exchange was a symbol of the power of what was then the second-largest city in the US. It was in this city that the world’s first skyscraper was built, and Louis Sullivan was a pupil of the architect behind this pioneering building. The pupil’s designs far surpassed those of his master, and it is Sullivan who is recognised as the father of the modern skyscraper. The architect opted for an innovative steel frame, lifts and an incredibly ornate terracotta façade. Interestingly, you can read about the architect’s other outstanding works HERE and HERE.
The Chicago Stock Exchange building rose to a height of approximately 52 metres, and its 13 storeys made a huge impression on the city’s residents. As Sullivan believed in his own words: “Form follows function”, the building incorporated many modern, functional solutions. First and foremost, the incredibly ornate façade was clad in terracotta tiles, which could be mass-produced from moulds. Of course, Sullivan himself created the organic patterns winding across the tiles. However, despite the dense ornamentation of the lower part of the façade, the upper storeys were characterised by a simple, utilitarian design. By comparison, Europe had to wait until the first decade of the 20th century for such an innovative approach.
Magnum opus
The greatest gem of the project is the trading floor, measuring 30 × 22 m. Its ceiling soars to a height of 9 m, and Sullivan’s spectacular decorations, combined with over 50 different organic shades of colour, create a fantastical whole. The large coffers filled with floral patterns, which cover almost every centimetre of the ceiling, are particularly impressive. Another interesting feature is the column capitals covered with brass casings.
Colourful skylights have been fitted around the coffers, gently diffusing the light. It is worth noting that a characteristic feature of every Sullivan design was the intricate ornamentation on every possible detail. For this reason, the architect himself drew the patterns, which were later embossed into brass door handles, buttons and balustrades.
As early as 1908, bank employees moved into the hall after purchasing the building, and subsequent tenants paid little attention to the historical value of this interior. Worse still, in the 1960s and 1970s, modernist urban renewal schemes swept across America. Buildings in many iconic US cities had to make way for major motorways and new, taller buildings. In Chicago, meanwhile, city planners wanted to demolish the pioneering skyscrapers from the late 19th century and erect much taller structures.
The battle for the past
The Chicago Stock Exchange Building fell victim to these plans. Despite numerous protests from residents and city architects, the building was demolished, and in its place rose a simple 169-metre skyscraper in the International Style. However, city architect John Vinci and photographer Richard Nickel took matters into their own hands and began to salvage what they could from the demolished Chicago icon.
Elements such as lifts, balustrades and buttons survived thanks to their dedication and can now be seen in museums around the world. However, the greatest treasure saved is the trading floor itself, which was moved to the nearby Art Institute of Chicago. Sadly, during this battle to preserve the architectural heritage, R. Nickel was crushed to death by a section of the building being demolished. Interestingly, local architects refused to collaborate with the developer who wanted to build a new skyscraper, so the owner turned to architects from Texas for help.
An ‘inconvenient’ treasure
Unfortunately, in March 2026, the local press reported that the shopping hall, which had been fortunately saved and reconstructed, is once again under threat of demolition. Two years ago, the Art Institute of Chicago received substantial funding to expand its exhibition spaces, and the historic hall stands in their way. Although the demolition plans are not yet certain, Preservation Chicago, a local organisation dedicated to the protection of the city’s historic buildings, has begun to raise awareness of the issue. The organisation has also suggested an alternative expansion plan that would not threaten the historic hall.
At present, the iconic room designed by the ‘father of skyscrapers’ is on the list of Chicago’s most endangered historic buildings. Preservation Chicago has even organised a petition to prevent the demolition. It is also worth noting that the 30 North LaSalle skyscraper, which replaced the stock exchange, may itself be demolished, a fact ironically commented on by 89-year-old architect John Vinci.
The link to the petition can be found HERE.
Source: WTTW
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