Wacker-Randolph Building Debuts New Sustainability Program, Earns LEED Silver Certification
- Dec 11, 2014
By Ioana Neamt, Associate Editor
CHICAGO – American Realty Advisors, a real estate investment manager with over $6 billion in assets recently launched a new sustainability initiative at 150 N. Wacker Drive, just days before the building received LEED Silver certification from the United States Green Building Council (USGBC). According to a news release, the building underwent LEED recertification process in early 2014, which included the development of a new plan to reduce energy and resource usage.
American Realty’s sustainability initiative for the Wacker-Randolph building is designed to reduce water consumption by 4,000 gallons per day, or 1 million gallons every year. The program includes the replacement of 115 restroom sink aerators, 4 showers, and 3 women’s toilets with low-flow versions, leading to annual savings of up to three times the cost of installing the water conservation fixtures.
“In addition to the saving the water itself, our sustainability strategy at 150 North Wacker reduced the energy needed to handle the water and sewage for the building by 90,750 kilowatt hours per year, which equates to a savings of 62.6 metric tons of carbon dioxide annually,” Jay Butterfield, Managing Director, Fund/Separate Account Operation, of American Realty said in a statement.
The 31-story, 233,255-square-foot office building at 150 N. Wacker topped out in 1970 and is managed by Transwestern. The property underwent extensive renovations in 2002, was awarded LEED certification in 2009, and received a 79 Energy Star rating in 2013. Known as the Wacker-Randolph building, the 393-foot office tower designed by Joel R. Hillman is conveniently located in Chicago’s upscale West Loop submarket, in close proximity to Ogilvy Northwestern Station and Union Station. Property Shark reports the building is currently valued at roughly $9 million.
150 N. Wacker is the first property to benefit from American Realty’s new sustainability program. The company plans to implement the new water saving features to its entire office portfolio, which includes more than 11.6 million square feet across the U.S.
“Commercial properties currently account for nearly 40 percent of total energy use in the U.S., and 38 percent of total greenhouse/carbon dioxide emissions,” explained Butterfield. “For this reason, sustainability strategies are a top priority for American and for our investors.”
Image courtesy of American Realty Advisors
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