Insurance giant CNA breaks ground on new global HQ

Insurance giant CNA broke ground Thursday on a new Loop office tower that will serve as the company's new global headquarters and extend the company's 116-year stay in Chicago for decades to come.

Last month, CNA sold its existing headquarters at 333 S. Wabash to the John Buck Co. for $108 million. The John Buck Co. is also developing the new 35-story building at 151 N. Franklin.

On Thursday, Mayor Rahm Emanuel and Planning and Development Commissioner David Reifman joined Buck in breaking ground for the new office tower on a typical spring day in Chicago - with snow flurries flying.

Emanuel used the opportunity to talk about Chicago's building boom.

"Four years ago, there were 11 cranes in the city of Chicago. Now, there are 25 cranes up. It's a vote of confidence in the future of the city," the mayor said.

"Each of those cranes represent about 1,200 people going to work building the future of the city. This is the third office building in as many years that is going up. John [Buck] has been dedicated … to the city, dedicated to investing in the city, creating an opportunity for jobs and economic growth. I want to thank him and everybody that's here for not only working this project [but] staying with us, working with the city to see this property contribute to the economic development and growth of the city. Congratulations. Let's get going."

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