Elgin Tower Building

Standing tall and proud in the heart of downtown Elgin, Illinois, the Elgin Tower Building is a magnificent testament to the city’s rich history and architectural prowess. This historic office building, originally known as the Home Banks Building, is a beacon of Art Deco design and has been a significant part of Elgin’s skyline since its completion in 1929. With its 186-foot height and 15 stories, the Elgin Tower Building is not only a prominent feature of the city but also a symbol of resilience and transformation.

The Birth of an Icon

The story of the Elgin Tower Building begins in the late 1920s, a time of economic optimism and architectural innovation in the United States. The Home National Bank and the Home National Savings and Trust, two key financial institutions in Elgin, decided to commission a new building to accommodate their growing operations. Construction commenced in March 1928, under the management of the St. Louis Building and Equipment Company, and by May 1929, the building was completed at a cost of $800,000.

The tower was designed to be a modern marvel, featuring state-of-the-art fireproof and theft-proof vaults. Its completion marked the beginning of a new era for Elgin, symbolizing the city's economic vitality and architectural ambition. The building opened with 70% of its office space already leased, reflecting the high demand for commercial real estate in the bustling downtown area.

Surviving the Great Depression

However, the optimism was short-lived. The Great Depression struck just months after the building’s completion, leading to the collapse of the Home National Bank in 1932. During these tough times, the building’s occupancy plummeted to 35%. Despite these challenges, the First National Bank of Chicago took over the building in August 1932, renaming it the Elgin Tower Building. This change in ownership helped stabilize the building’s fortunes, with occupancy rates gradually climbing back to 60%.

The Elgin Tower Building managed to weather the economic storm, becoming a beacon of hope and resilience for the community. A Walgreens store opened on the ground floor during the Depression, providing a much-needed boost to the building’s occupancy and foot traffic.

A Post-War Revival

The end of World War II brought renewed prosperity to Elgin. The demand for manufactured goods soared, revitalizing the city's industrial base. In 1945, investor Otto Pelikan acquired the Elgin Tower Building, and its occupancy rates surged, reaching near-full capacity by the late 1940s and 1950s.

However, this period of prosperity was followed by another decline in the 1960s. The closure of the Elgin National Watch Company in 1965 dealt a significant blow to the local economy. The building’s occupancy rates fell once again, and by 1980, only 40% of the office space was occupied. Despite these challenges, the building continued to serve as a vital part of the community, housing a successful restaurant in place of the former Walgreens store.

Restoration and Renewal

The Elgin Tower Building changed hands several times over the decades, with each new owner contributing to its preservation and restoration. In 1975, the Williams family undertook a significant restoration of the building’s façade, aiming to revitalize downtown Elgin. Three years later, William Stickling purchased the building and continued the restoration efforts, culminating in a major renovation in 1996 that cost millions of dollars.

In 1999, the building was illuminated with special exterior lighting to highlight its architectural beauty. After Stickling’s death later that year, the building was transferred to the William R. Stickling Charitable Foundation, which continues to maintain it. The foundation’s efforts have been instrumental in preserving the building as a historical landmark and a symbol of Elgin’s enduring spirit.

Architectural Splendor

The Elgin Tower Building is a striking example of Art Deco architecture, designed by W. G. Knoebel. Located at 100 E. Chicago St., between Douglas and N. Grove avenues, the building stands prominently in the area historically known as Fountain Square. The bridge on Chicago Street, near the building, was once the only crossing over the Fox River, further cementing the building’s central role in the city’s history.

The building’s base, made of limestone, features classical elements such as Corinthian columns flanking the main entrance, each topped with an eagle statue. The intricate carvings and seven bas-relief eagles on the second floor add to its grandeur. The arched windows and high-relief decorations are quintessential Art Deco, and the three-faced clock on the eastern corner, housed in a copper and bronze case, is a nod to the building’s original tenant, Home National Bank, which proudly advertised it as “The Bank with the Clock.”

A Bright Future

In 2002, the Elgin Tower Building was added to the National Register of Historic Places, recognizing its architectural and historical significance. In recent years, the building has been transformed into residential apartments by Capstone Development, ensuring its continued relevance and use in the 21st century.

Today, the Elgin Tower Building stands as a symbol of the city’s rich history and resilience. Its towering presence and architectural beauty continue to captivate residents and visitors alike, serving as a reminder of Elgin’s past achievements and future potential. Whether you’re a history enthusiast, an architecture aficionado, or simply a curious traveler, the Elgin Tower Building is a must-see landmark that embodies the spirit and heritage of Elgin, Illinois.