Chicago Architecture Info

The Clare

Formerly known as The Clare at Water Tower
55 East Pearson Street
Chicago, Illinois 60611
Basic Information
Designed by Perkins+Will
Cost $272,000,000
Type Skyscraper
Floors: 52
Neighborhood: Gold Coast
More Information
  • Developer: The Franciscan Sisters of Chicago
  • 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.