Peninsula Hotel’s building one of region’s ‘outstanding’ of the year

(Above) River North’s Peninsula Hotel and the retail complex on which it sits. (Click on images to view larger versions.)

April 15, 2015 – River North has at least one outstanding building. The Mag Mile building in which the Peninsula Hotel is located is one of six in Chicago named Outstanding Building of the Year by the Building Owners and Managers Association of Chicago.

Called a TOBY for short, the awards, says BOMA, “recognize excellence in building management, operational efficiency, tenant retention, emergency planning, and community impact.”

12 commercial properties total won in the North Central region of BOMA that covers Illinois, Indiana, Kentucky, Michigan, and Ohio.

730 North Michigan won for best retail building. Managed by Colliers International, its tenants include Banana Republic, Ralph Lauren, Tiffany & Company, and Victoria’s Secret. The hotel was built on top of a pre-existing four-store retail complex.

Spanish billionaire Amancio Ortega owns the building. His investment company, Ponte Gadea, which is based in Miami, purchased it in 2007 for $350 million.

“Recognition as a TOBY award winning property is the ultimate honor,” says Paula Goldman-Spinner, president of BOMA’s North Central region. “It instills a sense of pride of ownership in the management team and extends financial and environmental benefit for our owners, clients, and the community long into the future.”

Loop winners include Boeing’s corporate headquarters at 100 North Riverside (left), winning in the 500,000 to 1,000,000 Square Feet category.

It is managed by CBRE, Inc., which also manages Blue Cross Blue Shield Tower at 300 East Randolph, winner in the Corporate Facility category. Health Care Service Corporation owns that building.

Chicago Board of Trade Building at 141 West Jackson Boulevard won in the Renovated Building category. The Monroe Building at 104 South Michigan Avenue won in the Historical Building category. Hyatt Center at 71 South Wacker Drive won BOMA’s Earth Award.

They will all compete for International TOBY recognition, with winners announced on June 30 in Los Angeles.