Real Estate – 500 N Michigan Case Study2018-07-24T14:46:41+00:00

Innovative Technology & Style Keeps Chicago’s Iconic 500 N Michigan Ave Relevant to a New Generation

500 N Michigan Ave
Address: Chicago, IL
Owner/Manager: The Macerich co./CBRE
Project Class: B
Project Type: Office Tower
# of Floors: 24
Square Feet: 324,027 sq/ft

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Building History

Prominently positioned on the Magnificent Mile, 500 North Michigan is a commercial high-rise that has been delivering a home away from home to Chicagoans since 1968. Originally designed by world-renowned architectural firm Skidmore Owings & Merrill, the building retains its timelessly modern profile of tinted windows and travertine stone. The building was sold in 2012 to the Macerich Company, who are currently finalizing the sale of the building to investors from Israel and Switzerland. The building is best known now for its retail tenant Purple Pig, a restaurant that draws visitors from all corners of the city.

Redevelopment With Captivate In Mind

When purchasing 500 North Michigan in 2012, Macerich planned a redevelopment, with the end goal of connecting the property with the neighboring Shops at North Bridge. Although the properties were never physically joined, Macerich did lead a full renovation at 500 North Michigan, at which point three Wall Street Journal Office Media Network (OMN) screens – which Captivate acquired and converted in 2014 – had already been installed into the building. Macerich removed those screens during construction only, and reinstalled them as soon as the project was complete, wanting to continue to deliver a media experience their tenants had become accustomed to enjoying. The screens are now positioned in two elevator banks, which are two of the most highly trafficked areas of the building by tenants. The property is especially keen on giving tenants something to keep them engaged while waiting for the elevators to arrive.

New Age Hardware. Same Great Captivate Experience.

Macerich has since expanded on their use of Captivate by integrating ScreenCenter™, Captivate’s tenant communication tool, which they actively use today. In the final months of 2016, Macerich also decided to upgrade to Captivate’s Newest Multipurpose display hardware. With a thinner monitor and barely visible mounting box, the three screens fit seamlessly into the buildings chic interior. The new display provides access to a directory, an alert messaging system, custom content, and although Macerich are in contract to sell the building, these features will also be immediately available to the new owner. This means value added for the sellers, and the buyers already have a tool in place, ScreenCenter, that can be implemented to smooth transition of ownership.

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