December 8, 1961 – The third largest insurance company in nation, the
Equitable Life Assurance Society of the United States, announces plans for the
construction of a 35-story office building on a lot located between the Chicago
River and Tribune Tower. James F. Oates,
Jr., the president of the company, says that the building will be “one of the
most striking and beautiful in America.”
Oates continues, “These are trying days, and many citizens, including
business men, are concerned over the future of America and the world. We are not without concern, but we believe
with our full heart that the way to conduct our life in these times is to show
our faith in America. That is why we are
going ahead with this building – to show our faith.” Equitable will occupy about 20 percent of the
building’s 600,000 square feet, and the tower will be set back 175 feet east of
Michigan Avenue. Mayor Richard J. Daley
says that the deal between the Tribune Company and Equitable “demonstrates anew
the faith of men of the economic field in the future of this great city of
Chicago.” [Chicago Tribune, December 8,
1961] The architectural firm of Skidmore, Owings and Merrill will design
the International Style tower with Alfred Shaw acting as a consultant on the
project. The building stands behind J. Seward Johnson's "God Bless America" in the 2009 photo that I took of what is today 401 North Michigan Avenue.
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