The Clare in Chicago

Photo of The Clare in Chicago, Illinois
Photograph © Wayne Lorentz
Photo of The Clare in Chicago, Illinois
Photograph © Wayne Lorentz
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Photo of The Clare in Chicago, Illinois
Photograph © Wayne Lorentz
Photo of The Clare in Chicago, Illinois
Photograph © Wayne Lorentz
Photo of The Clare in Chicago, Illinois
Photograph © Wayne Lorentz/Artefaqs Corporation

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The Clare
Formerly:The Clare at Water Tower

55 East Pearson Street, Chicago, Illinois, Gold Coast 60611
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Quick Facts
Timeline
  • May 22, 2008: This building tops out.
  • October 2, 2008: Crain's Chicago Business reported that the Cook County Tax Assessor was trying to revoke this building's tax-exempt status. It had that status because it was developed by the Franciscan Sister of Chicago Service Corp. on land leased from Loyola University. It was projected that Cook County could reap $670,000 a year if the building was taxed.
  • January 20, 2009: Obstruction lighting was activated on the roof of this building, including strobe lights that flash into more than a dozen neighboring residential buildings.
  • November, 2011: This building filed for bankruptcy.
  • April 12, 2012: The building was sold in a bankruptcy auction by Senior Care Development for $53.5 million in cash and an estimated $57 million in debt.
Notes
  • Developer: The Franciscan Sisters of Chicago
Related Video
Flashing Clare
Shows the obstruction lighting atop The Clare at Watertower

Video courtesy of the Chicago Architecture Blog.

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