The building’s renaming marks a bold new chapter of innovation for the beloved architectural icon, spearheaded by luxury developer SHVO
CHICAGO, March 20, 2025 (GLOBE NEWSWIRE) — SHVO, the luxury real estate development and investment firm, today announced that 333 South Wabash, affectionately nicknamed by Chicagoans as “Big Red,” is now officially renamed “The Red.” On the heels of the building’s 50th anniversary this year, the transformation celebrates the building’s storied past while ushering in a new era as a vibrant cultural and business hub in Chicago’s premier business district.
“As 333 South Wabash evolves into The Red, we’re honoring its architectural legacy while embarking on an exciting new chapter for this unique icon,” said Michael Shvo, Chairman and CEO of SHVO. “For fifty years, this building has been a beloved part of Chicago’s skyline, and now, with a refreshed identity, world-class design, and curated cultural offerings, it’s poised to not only stand as a symbol of Chicago’s spirit but also as a dynamic center for innovation and community engagement.”
Located in Chicago’s East Loop, The Red stands as the city’s sole red skyscraper and a cornerstone of the skyline. Designed by a student of celebrated Modernist architect Ludwig Mies van der Rohe, the building exemplifies the International Style with its striking russet-red façade and clean, modernist lines. Constructed in 1970-1972 by the prolific Chicago firm of Graham, Anderson, Probst, and White it was celebrated with a distinguished building award from the Chicago Chapter of the American Institute of Architects. For more than five decades, its bold design has made it an enduring symbol of Chicago’s architectural excellence and innovation. One of the most prominent architecture firms in Chicago in the 1920s, Graham, Anderson, Probst, and White also designed iconic buildings such as the Wrigley Building, Merchandise Mart, Shedd Aquarium, the Civic Opera House, and the former central Chicago Post Office, among others.
Beyond its architectural significance, the building has undergone a transformative reimagining under SHVO’s stewardship after the firm acquired the building in 2020. Highlights include the reopening of Hayden Hall, a 25,000-square-foot, chef-driven culinary market that opened in June this year, showcasing regionally inspired cuisine that has brought a new dimension to the building, available to tenants and the public alike. SHVO also added new tenant programming and enhanced tenant amenities such as conferencing facilities, auditorium, state-of-the-art fitness center, and tenant lounge.
333 South Wabash is a forty-four story 1.2 million-square-foot office tower boasting unparalleled views of Grant Park and Lake Michigan. The building is only home to many of the city’s highest profile corporate headquarters including Northern Trust, Chicago Housing Authority, Akuna Capital, and HOK Architects, but serves as a revitalized hub for culture, work, and social engagement. Additional amenities include onsite private parking for tenants, access to on-site daycare facilities, and a tenant shuttle service.
The renaming of 333 South Wabash to ‘The Red’ is the latest example of SHVO’s successful strategy to elevate super-prime real estate. Other examples include the recent remastering of the iconic Transamerica Pyramid Center in San Francisco, which re-opened this September and has achieved record rents, helping catalyze the revitalization of downtown SF.
About SHVO
SHVO is a luxury real estate development and investment firm built on the vision of Chairman & CEO Michael Shvo to create culture-defining experiences in iconic properties. Headquartered in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago, SHVO owns and operates a national portfolio valued at more than $8 billion and 4.5 million square feet across commercial office and retail space, hospitality, and luxury residential assets.
The firm’s selective portfolio of architecturally significant properties, from innovative ground up new developments to revitalized landmarks that define skylines in the world’s leading cities, includes the Transamerica Pyramid Center in San Francisco, The Raleigh Hotel in Miami Beach, 333 South Wabash Avenue in Chicago, Mandarin Oriental Residences at 9200 Wilshire Boulevard in Beverly Hills, Mandarin Oriental Residences Fifth Avenue in New York City and the AMAN New York Hotel and Residences at the Crown building.
Renowned for its expertise, SHVO is fully integrated with highly diversified industry experience in every aspect of acquisitions, finance, development, design, sales, leasing, property management, hospitality, and sustainability.
www.shvo.com
Media Contact:
shvo@berlinrosen.com
