The building’s complex mixed-use format—with overlapping office and retail systems—required thoughtful, transparent financial management. Zeller implemented a series of innovative structural strategies to protect ownership and ensure equitable tenant billing:
- Created separate tax parcels for office and retail, allowing distinct base rent and tax allocation.
- Developed custom expense pools tied to operational usage (especially HVAC) to prevent tenants from subsidizing other users.
- Introduced a“Special Use Area” for a lower-level tenant, ensuring direct tax attribution and isolating costs from other occupants.
- Secured Landmark Class L status, significantly reducing real estate taxes through 2026, and proactively defended the designation from assessment challenges.
Each initiative was executed not as a one-time fix, but as part of a living financial model that Zeller continues to refine annually.
Each initiative was executed not as a one-time fix, but as part of a living financial model that Zeller continues to refine annually.
The Wrigley Building’s transformation has been recognized with some of the most prestigious honors in architecture, sustainability, and real estate:
Major Awards
- BOMA International TOBY Award (2017)– Outstanding Building of the Year
- American Institute of Architects Honor Award (2014)– Distinguished Building
- Landmarks Illinois Driehaus Award (2014)– Preservation Excellence
- NAIOP Chicago Award for Excellence (2014)– Office Redevelopment of the Year
- Axios Chicago (2022)– Best Building in Downtown Chicago
