BMO Financial announced plans for a new office tower in Chicago. Central to BMO’s business transformation strategy, the new BMO Tower will employ 3,600 staff members across 14 floors of a 50-floor, 700-foot building, which will open in 2022.
“We are accelerating our strategy to build on our growth in the United States, our competitive advantage in Chicago and the Midwest and deliver for our customers across North America. The BMO Tower in Chicago will be a centerpiece to the business transformation that’s underway at our company,” said Darryl White, CEO of BMO Financial Group.
For BMO customers, the new tower will include a state-of-the-art branch, ATMs and the latest innovations in banking. Located in the West Loop neighborhood, the new tower is part of a larger neighborhood transformation which includes 1.5 acres of new public park space surrounding the tower.
“Chicago’s unmatched economic strength and dynamism gives companies like BMO the resources, workforce, and talent they need to lead in the global economy of the 21st century,” Mayor Rahm Emanuel said. “The new BMO Tower not only speaks to BMO’s commitment to our city and its future, it also represents a vote of confidence in the Union Station Modernization Project as a vital link to economic, cultural and recreational investments for Chicago’s residents, visitors and businesses.”
“We’ve operated in Chicago for over 150 years,” added David Casper, U.S. CEO, BMO Financial Group. “With a nod to the past, we’re investing in our future in Chicago, building a world class office tower in a world class city, while providing our employees with a modern, progressive, cutting edge workspace designed to help them succeed.”
BMO Tower’s central location will provide employees with easy access to air transportation, rail networks, CTA, road and bike paths, while the workplace design will feature advanced digital technology, abundant natural light and modern design practices to enhance collaboration among employees.
This initiative was driven by BMO’s Corporate Real Estate team in Chicago, who were represented in the transaction by Steve Stratton and Jeff Liljeberg of JLL. The tower will be developed by Riverside Investment & Development and Convexity Properties, in partnership with the bank.