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Aon Center Owners Eye Soaring Revenues from Observatory Deck
The owners of the Aon Center, Chicago’s third tallest tower, unveiled plans to add a 1,000-foot glass elevator traveling to an observatory on its top floors. With a cost of $185 million, the additions could generate $220 million in municipal taxes and have an economic impact of $915 million over a 20-year period, 601W Companies said Monday.
If built, the observation deck would make Chicago the only U.S. city other than New York with three observatories. Potentially, it could also boost the Aon Center’s revenues. 601W principal Steve Sales told the Chicago Tribune the observatory could bring in $30 million to $40 million per year, compared to the building’s current annual revenues of $50 million.
“A successful observation tower will bring in a lot more revenue per square foot than an office tenant will, even in prime real estate,” Northwestern University professor Craig Furfine told the Tribune.
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