Saturday, January 30, 2016

January 31, 1911 -- Home Insurance Building Sold


January 31, 1911 -- The Home Insurance Company building at the corner of La Salle and Adams Streets is sold for $2,150,000. James and Charles Deering purchase the property. Their father, William, had founded the Deering Harvester Company, and the family hit the jackpot when financier J. P. Morgan purchased the firm and merged it with the McCormick Reaper Company and several other farm implement manufacturers to create what we know today as International Harvester. The Home Insurance Building, designed by William LeBaron Jenney and completed in 1884, is considered by many to be the world's first metal-framed skyscraper. It was the tallest building in the world for seven years. It's gone now. It was demolished in 1931 to make way for the magnificent Art Deco skyscraper at 135 South La Salle.

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